Okay; Gerald Bunch - time to come to remedial school once again <VBG> .
< You did mention FEN last week as a speculative play didn't you? >
Gerald - not ''just'' last week and not just a mere ''speculative'' play... what I actually said was this:
<< FEN - either a 2/3 bagger, or out of business >>
Message 8318125
...Now Gerry; How good can a guy get <VBG>? I was right on both counts ! We got a near 3 bagger and some folks ''think'' they are out of business; allthough the Ch. 11 is not ''out of business.'' - and ''out of business'' would be speculative in my book; how much more stern of a warning would you like ? - definitley not a stock for the Widows & Orphans, or the ''Bunches'' of the World....
FEN ''is'' now a near 3 bagger in the bank, with ''zero cost basis'' shares remaining and you too could have reaped these rewards if you would have listened to the entire story <VBG> ! .... I now have the ability average down if I want; depending on where FEN opens - I can still perhaps close out my remaining position at a profit perhaps - or, I can just hold these ''zero cost basis'' shares for the ''option'' type of play that I stressed that it is...
We were in at .79cents - 25/32nds on Jan. 26th:
Message 7502742
<< << Count me in - cheaper than an ''option'' at this price...
#9, SliderOnTheBlack, Jan 26 1999 11:27PM....Could see 30- 50% on just a bounce play on ''any'' positive news. >>
actually we did see a one day gain of 67% ! - ... and took profits through $2 1/8th - for a 172% profit. We sold 2/3rds of our position - keeping the remaining 1/3rd for a speculative play at a ''zero cost basis'' after a huge short term profit. All of the speculative plays are ''trading'' situations and should be followed on a ''daytrading basis'' and one must take profits aggressively. Owning a basket of these stocks ( RRC CRK FXEN PGEI PETD MLRC FEN etc.) is the way to play these volatile high leverage micro's.
We have had numerous opportunities to take many 30-50% short term profits on the ''bounces'' here as commoditys reverse and then retain some '''zero, or low'' cost basis shares for a longterm -high potential return hold. A basket of the above stocks will do very, very well over the next year imho... time will tell.
Bottom line - these are ''traders'' - ie: our prior and current plays with RRC:
Message 6070348
<< RRC...up 50% on an ''expected'' bounce...>>
...see prior posts on CPE, EVER on the Oil & Gas Exploration Board. Buying these disproportionate 1 day blowoffs has been highly profitable. Allthough, as mentioned before - these are high risk - purely speculative stocks....'nuff said. We have taken enough profits for an occassional FEN ... but, FEN isn't done yet - hold off on putting a ''fork'' in this one; the Swede isn't done yet - neither are the trading opps in FEN...!
An important point is that these ''speculative micro - cap'' plays are a small niche in the E&P sector and are NOT'' the'' way to play the sector. These are a high risk/high reward, very small niche within the sector for maybe 10% of investors and should obviously be a very small part of anyones portfolio.
The BR's, NBL's, APA's, ARC's, MRO's, EVER's, MARY's are the smart solid way to play the E&P's.... but an occassional 30-50% one-two-three day ''pop'' kind of keeps things exciting....for those so inclined anyway...
As allways Gerald; good luck and nice to hear from you and your eternal Monday Morning Quarterback perspective ...hey - you know what; you seem like a PZE kind of guy to me; - buy some PZE in the morning and call me next XMAS....<VBG>. |
