I want shares back here LOWER.
Recent upside analysts coverage had a price target of $10.00 per share and we rallied to $10.50.
OIL popped 25% in April, pushing BAS stock higher and appears to have topped at least for now.
BAS stock rallied over 100% while OIL bounced 35%., following bottoms.
SHORTS got squeezed and could be a little upset lol and shorting again.
PROFIT takers like myself ahead of SELL in MAY and go away.
Personally I welcome a nice pullback in Markets, OIL and "BAS"
ps. I'd love the opportunity to buy back shares here LOWER again.
Nice pop on markets, but market correction is also overdue.
You clowns will ride this into BANKRUPTCY lol.
WOW..............Another YTD high.......Run seems to have legs lol.
Some profit taking this morning on first run into 10's, but here we are tapping 10's again.
I think we've seen our day high. Feels like a sell off may take place soon. Love to get some shares back lower.
Fact is, "BAS" shares have doubled in short order and why I sold $9.90. Personally I'd welcome a chance to buy shares back her 10-15% lower.
Early shorts near 52 week high clearly won here as the stock tanked some 80% plus. Longs like myself who came along following the carnage from 30 to 5 per share, have also made some nice gains.
That said, OIL may top out soon, if it hasn't already and retrace soon.
LOVE THE TRADE HERE
Payout on it's way.....and 13+ per share :-). OIL up 35% from it's low, but my "BAS" has doubled albeit I didn't get in same until 6's.
If NMM doesn't hold 13's, I'll likely dump shares after payout and try to pick them up on the cheap again.
CUBICLE_99 Short, or not my trading friend, at least I'm not talking to myself on this thinly active message board lol.
Love BASIC ENERGY'S historical price chart. The peaks and valleys of the stock, look like my deck view of our Olympic Mountain range here in the greater Seattle area.
Obviously there's a multitude of reasons a stock is priced where it is at any given time, but my focus in this message is merely the price chart itself.
Looking at the fall from each peak to it's valley floor. More importantly, note the timeline of each smaller mountain range between each major peak.
We just hit the valley floor recently ($5) and heading back up to what I suspect could be our next smaller peak, at which time the stock could retrace and walla a new smaller trading range. This smaller range could last awhile.
So to sum up (I must be bored this evening lol), I believe we could see our first smaller peak soon and retrace again, thus repeating previous smaller trading ranges.
BASIC ENERGY clearly follows OIL and as OIL bottomed so did BAS. OIL has bounced 35% from it's bottom, while "BAS" has doubled. It's my opinion OIL will top soon and retrace as will "BAS".
THE END :-)
ps. So you'll get that reversal for that short play in due time, but BAS may find 12-13 first.,
Dang, I even thought about shorting after seeing the carnage at TWTR lol. Oh well.
I'll eat my shorts if we don't hit 10's tomorrow :-)
Anythings possible and why I secured majority of my gains at 9.90 :-)
AMEN......Just found a new day high and holding gains as we head into the close. I secured the majority of my gains at 9.90 and would welcome a pullback so I can buy back shares I sold lower. That said, I really don't expect much of a pullback if any and may end up chasing 10's. Looks like that's our next stop if this upsdide momentum continues.
ENERGY SECTOR & OIL killing it :-)
You agree with me? I never said I was going short, but welcome shorts attempt to take BAS back down as I sold the majority of my trading shares as posted here at $9.90.
Naturally I'd rather buy sold shares LOWER over having to chase the stock higher. That said, if this breaks into double digits on strong volume, of course I'll continue to chase the reversal / mojo.
ps. WAY to risky to short this stocks upside momentum.
Based on what? To many consecutive up days? That logic could find your short position further strained. You know what they say, never chase a falling knife. On the flip side, never short momentum just because you think it needs to come back down.
BAS's stock got crushed by shorts from 30 to 5, but that trade is clearly over until a solid reversal supported by heavy downside volume. That's simply not happened here yet.
ENERGY SECTOR today stood along in the green all day on Wall Street. OIL recovery has been on fire from low 40's to high 50's.
Get back on the right side of the trade here, before you regret it even more than you already do.
ps. May not see double digits today, but if we close strong, 10's are very likely tomorrow.
GALE is a pos heading towards bankruptcy fast.
Get er done.