Get ready for a ton of activity on this board. This stock is going back to 12-14 where its been.
Ivebought umpteen amounts of stock today after the clear break above 5.67.
Who else has thoughts in the short term??
I love how quickly people get pissy on message boards. It's all part of the game I guess. Hart is right, this will remain a great board. If WRES going to $10, $15, $20 means more idiot posters, I'm totally fine with that...we are here to make $$. Sticks and stones... Kangaroo out!
Hart, I'm right there with ya! I gave grit the benefit of the doubt but now I'm done. Now I gotta see if I can remember how to use the "ignore" button. Please forgive me if I miss some of the finer points if grit continues to contribute, but he's getting the electronic version of "the hand" as of this moment.
Well said, Snot. Grit, we have been here a while and understand this stock's movement. We told you about it in response to your first post. Contrary to your assertion, we also understand what normally happens in a "blue sky" breakout. WRES is different. It is not a daytrader's delight. Candidly, this is why I like WRES, it is a relatively slow mover with high quality assets/good profits that has maintained a nice upward trend since bottoming at $.40. If you are willing to hold a year, you will catch a double. If not, you should probably move on to a high beta pinky.
I had planned on doubling-down but shot my dry powder on two other trades last Friday (one tag at support and one potential squeeze into earnings). I have no problem adding anywhere in the $5's but short-term support has been close to $5.00. Today's action is a test of $6 that I mentioned before, but I thought it would happen mid-Feb rather than now. In the short-term, I'd like to see a break and bounce off $6 to establish support and to confirm the stair-step action Ken menioned. Give us that and I see $7 as the next target/obsticle. Longer-term, we'll blow through $10 this year.
Influencing factors: fear, speculation, socioecomonic instability, inflation, and strength of WRES fundamentals. The commodity trade will be strong this year and my play money is being focused on basic materials.
Thanks for the good words Ken& Snot
Like you snot I could kick my self, as I had hoped to add-perhaps double last Fri..I thought and apparetly thought wrong (again)about the dirrection.
Any of us that have been here for the last few years know-It has never been an easy ride..right now this industry group and wres has a lot to look forward to but,
to think it will be an easy ride from here on...sounds good, but, I think we all should know it probably won't be, but our patience should see more great returns.
ONE WEEK AT A TIME;}
I like what I'm seeing, but I need to learn more about WRES. My guy just got me into it about a month ago and so far so good.
Got a ways to go to attain the heights reached by my other star -- BEXP -- but I'm impressed to date.
Short term = who knows. The breakout looks good (almost no upside resistance until $8) and we could see $7 in February/March, but we could just as easily trade back to the mid-$5's and consolidate there for a bit longer. This stock likes to stair step, back and fill. Those who have been here a while have see it happen in the $2's, $3's, $4's adn $5's. I know a bunch of us on this board feel very good about WRES hitting $10 by year's end...if you can wait that long, stay in for the ride. GL!
Maybe because of the recent attention that oil has been getting.
Lucky for them though, because as the sector recovers the small company stocks will skyrocket in price and the opportunity and profiting will go virtually unnoticed by the broader market.