Buy some more, didn't you hear, the Prez is over there right now making sure your investment is running smoothly. This is a can't miss opportunity to make millions. Quick, buy more its going up. All aboard that want to be a millionaire. Don't miss out. You want to be a millionaire don't you. Well this is it, even the Prez is making sure your gonna be a millionaire. Buy more. Now. Hurry up, buy more.
That was my trade. Bought 1k shares at $8.15. This was unusual for me. I normally don't buy speculative, small cap energy stocks, and I've never bought in the after hours market. I sold 150 shares of COP to invest in FXEN. Got 200 shares at 7.90, then someone got 400 at 7.19 and 460 at 7.34, and I had 1100 at 7.9 limit sitting there unfilled, so I called Schwab and complained. They claim they get you the best price, so I said you didn't get me the best price. They said they only do after hour trades through arch, and that the 7.19 and 7.34 must have traded somewhere else, they said there is a way to get trades after hours on other than arch but I would have to learn about it on their trading education web page - so my ignorance screwed me again - what do they say, its what you don't know that hurts you.
Anyway, I've been watching FX since about November and I must admit I was very skeptical of it, but I decided I would wait until it had actually found something - well, I decided yesterday was close enough (hope I didn't jump the gun, since they haven't actually said it is commercially viable yet). I also didn't buy in Nov because I didn't believe Buffett was involved, but I went to the BRK board yesterday and asked and no one said that he wasn't here so I took that as a yes he is here. Not that I go around buying what Buffett buys, but I don't want to be sucked into some scam using Buffetts' name to validate it.
I am a long term long, and this is my "wildcatting energy gamble", so if there is anything real here I hope to benefit - not only does there need to be some real gas finds, but the management must be honest and on the shareholder team (I don't see evidence yet that FX has proven themselves managementwise yet either; that's the other thing that kept me out of this since Nov). I'm still skeptical of their latest SEC statement to increase shares outstanding. Actually, from what I learned, Buffett did not directly invest in FX, but an energy company he owns did (Cal Energy), to my knowledge there is no evidence that Buffett was directly involved; it could be just the Cal Energy management that made the decision, in which case the FX management has not actually received the Buffett stamp of approval. If management is not trustworthy we could lose even if they hit gas big time.
Well, the market cap is about 200mil today. If we say get reserves of 1tcf, what do you think the market cap could be? Anybody have thoughts on this? TIA