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  • dtbdfb dtbdfb Mar 4, 2005 7:27 PM Flag

    What basis

    Observer, I am going to reply to you with this so that you may offer the rebuttal/alternate view. The person points out that they are new and as a new investor I would recommend that they pay attention to the transactions of insiders. Regardless of the reasons the insiders may have for selling, it has been my experience that insider sales is not a positive. The fact is we do not know for sure what the future production and/or cash flow will be while the insiders certainly have at least a more informed idea.

    I recommend monitoring all filings with the SEC at

    I will certainly qualify this by saying that I also had the opp. to hold shares bought @ $11.50 and continue to buy as it has risen but did not because of the insider sales. So, you, Observer, have been right and I have missed a great move.

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    • dtbdfb:
      I agree that insider transactions should be taken into account in reaching a buy-sell-hold decision. It's just that the level of sales here relative to the very large remaining holdings of the sellers, to say nothing of their unexercised stock options, suggests no more than sensible diversification on their part, IMO.

      FWIW, I have been adding to client holdings here, and expect to continue to do so. In my many years in the investment business I have never seen an industry background that was so conducive to growing wealth, and this management appears unusually adept at being in the right place at the right time. I think we are still in the relatively early stages of the move. One man's opinion.

      • 2 Replies to observer_65
      • Nicely put. The mgmt. of this company has demonstrated their ability to recognize an opportunity, seize the moment and produce spectacular results. Energy is no bubble industry. With the ramp up in usage by nations such as China, India and many of the third world countries the demand will continue to grow and the price will remain at these levels or higher for the foreseeable future. Even the Arab world will most likey become major consumers as they convert to Democracies snd adopt Western attitudes in the coming years. I say it again; "this is just the tip of the iceberg". All IMHO.

      • thank you for those cogent remarks. Is this oil surge a bubble similar to the dot com irrational exuberance