I recollect that morning which was basically the last time it was at $2.00. I had already been observing it and had read about the agreement with rolls royce. I am not sure but I believe at the time, Rolls decided to receive shares as a form of payment to retire the debt. I was giving thought to thought to thought. Then it began to move on the news of Cal Energy and that is when I made the decision to get in. Not agressively on the initial but as it continued to move upward. I held through even to the spike to $16.00 when the z well news came out. At this time in 2007, to get out at $16.00 is really shortchanging. Why risk missing an aggressive upward move when you do not need the funds??? I missed already at the $2.00 range. I am in no rush so I just let it sit as a retirement account growing and growing. Maybe by then Long capital gains will be 5% LOL LOL
You are indeed fortunate to be in at the $2.00!!!!!!!
For what it's worth, I correctly interpreted your message as being directed at Ski even though the "reply" in the message tree was in response to my message. No worries.
By the way, when I was buying in the $2.00 range, I framed up the purchase as buying options with no expiration date. The company was looking down the barrel of bankruptcy given that it owed $5 million to Rolls Royce with no obvious way to pay it back. I knew I was taking a HUGE risk. So, from a risk benefit perspective, your purchases in the high $3s may have been much more intelligent than my purchases in the $2.00 range. I was lucky. You were smart.
Likewise, smart buyers purchased in the $4.00 and $5.00 range last fall. But today's buyers may come out looking pretty smart too. Time will tell. If this current well is a success, that will be very good news. There are no guarantees in this business.
Ski: There is one unequivocal documented self-proclaimed liar on this board. In case your memory fails you, go back to message 7202 when you bought options months before options were traded. Later, you claimed genius by stating that you successfully misinformed the board about your actual position (I could find the post if it were important to me... but wasting time on you reminds me of my first job in life on a pig farm... not worth the effort). I find the etrade portfolio posted by another on the list fascinating. What is your lie du jour regarding these data?
In 2002, I bought in just above $2.00. Today, it is just below $9.00 with excellent prospects for the future. Is there something you don't understand about long-term investing. I know you're short FXEN but am beginning to wonder whether you are also short something else - such as common sense.