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GeoGlobal Resources Inc. Message Board

  • zarman3333 zarman3333 Dec 21, 2005 3:56 PM Flag

    Yoga, be careful

    with this one. I recall we had the same conversation on this one when it was in the 7s. While I normally agree with everything you short ( I am usually short right there with you), I have been long here for a while and its been fun. Agreed it has run up very far and fast, so much so that I've sold off about 80% of my position, but be careful. I live 10 minutes frokm GGRs office ( actually close to the MSGI office LOL)and some very very knowledgeable oil and gas people here in town think very highly of JPR and think very highly of their find in India.
    So again, just be careful with this one, OK?
    There is too much garbage out there to short; this could bite you hard.

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    • And I wouldn't have stayed short this one hoping for it to retrace to the 3's which is why I covered in the low 6's for a reasonable profit.

      But at this point I can smell speculative excess. Of course for the other longs, obviously yourself excepted, trees grow to the skies and there's no high high enough. I think I can provide them with shares.

      I've had the same experience of a stock rising much further than I ever expected with MIND. I've sold off about 60% of my $8.20 buy. I'll certainly sell what's left after Jan 2nd (taxes) and even short it if it goes much higher, lol.

      • 2 Replies to yogalad_returns
      • I hear ya yoga, that is why I am down to 20% of position. But, with that being said, it does have takover potential, and also has elephant gas find potential (this, again, from some very respected people in this town).So be careful, start small.

      • I'm going to break ranks from the longs (briefly) here. I do have to agree with you that this recent price movement from the 9's not too long ago to now the 13's does seem a bit excessive. Which is why I'm adding to my position in MUCH smaller chunks than usual at these kind of prices to dilute my risk. I mean just a few days ago, I thought I might be a little crazy buying 1000 shares at $11.30. Since it hit the 12's, I've been watching like a hawk for the inevitable pullback. However, the tremendous buying pressure in anticipation of the supposedly imminent (matter of days to weeks) announcement of TD has shocked even a hugely optimistic long like myself. I just think you should be careful shorting a stock like this, especially while it's still in the middle of buying frenzy. Say it does pull back, what would it likely pull back to? Probably 11's. Your profit would be $2.50 a share. If it doesn't pull back, it will likely hit high teens to low 20's, your losses per share would heavily outweigh any potential profit. I'm not trying to convert you into a long. If someone did want to go long on GGR now at these prices, I would advise them to buy only a small position. So again, just be careful.

    • you got that right...keep your ear to the ground. real deal, this name.