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CANO PETROLEUM INC Message Board

  • melz99nyr melz99nyr Feb 15, 2012 11:02 AM Flag

    Just bought half the volume

    i feel like a king today. just bought 60K shares this morning and that's half the float.

    if this company stays in business, i expect a double at least. all this money printing will some day lead to a commodity bubble. cano just has to stay afloat for a few more quarters. of oil runs up to 150/barrell the day traders and pumpers will be all over this name. does anyone remember April of last year before the arab spring and euro crisis? that's why i am back in this name. purely a spec play here.

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    • I will stay in as long as the banks stay.Lets see what happens

    • Good luck to you Melz. I think you have accurately outlined the only reason to buy this stock and you understand the risk you are taking. There is no other compelling reason to trade this stock. I've thought about picking some up for the same reason, but just can't get comfortable with the risk reward relationship. If I was comfortable that they would still be around in six months, I'd take a shot at it because I've seen what the pumpers can do with stocks like this. My concern is that they are close to announcing an asset sale or merger that is very likely to wipe out the common value entirely. It's a crapshoot basically.