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Message: Yesterdays trading

Jun 23, 2008 04:50AM

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Jun 23, 2008 09:41AM

This is from OTC-Journal:

June 23, 2008
Welcome to the erratic world of micro caps. For those of you who missed it, just this last Thursday we launched a new feature profile on Platina Energy Group (OTC BB: PLTG), a small but potentially exciting oil & gas production company with properties in Kentucky, Tennessee, Wyoming, and Oklahoma. Like I explained in Thursday's profile edition, the Company has the technology to rework old wells, as well as drill new ones. Post market close on Thursday, the Company announced that more gas wells have been connected to the pipeline for purchase by a major supplier. Friday, shares of PLTG hit the ground running trading up to $.17 cents with just over five million shares exchanging hands , a big day indeed for everyone who acted on the open.
We knew this particular play would be exciting, but we had no idea it would be this exciting this soon. Today, almost ten million shares of PLTG were traded . The stock opened at $.18 cents, only to have its brains blown out all the way down to $.07 cents before settling back up to a reasonable closing price of $.13 cents. Like I've stated before, when it comes to small and micro cap stocks, they are not for the faint of heart. Always be willing to expect the unexpected.
Is it a Coincidence that the stock briefly took out our SSL of $.08 cents before finding its way back to normalcy? Who knows. Was it PLTG market makers? Good question. What I can tell you is this is why I am not a big fan of "pre-set" stop loss orders ... for this very reason. I call it the way I see it and today, I saw no other apparent excuse for the stock to trade down to that level other than the fact that there were more sellers than buyers who decided to come out of the woodwork.
However, I am a big believer that the last hour of trading in the market is the most important hour of the day. It appeared the more rational side of the market jumped in and brought shares of PLTG back to a reasonable level . If that's not enough to put together a day time soap, at 2:44 PM EST the Company announced its report on the total depth of well number 4 in Kentucky. They're estimating about 60 barrels of oil in this well that they will need to pump out before perforating the pipe and getting a pump jack in place. The natural gas gathering line is already on site and crews are working around the clock to commercialize this well perhaps as early as later this week . This should bode well for shares of PLTG. The complete press release has been included below for your review.
I've also included a daily and monthly chart for reference. Why? Because when you look at the monthly chart, today is merely a blip on the screen, if you look at the daily chart, it depicts true drama. This is why I choose to cover and hold micros for extended periods of time . It's generally a long-term game and we're only in the first quarter with PLTG. We'll watch and see how the stock acts for the rest of the week before taking a look at re-setting our SSL .
All I have left to say after observing today's price action in PLTG is if you're not committed to stomaching the volatility of oil and gas stocks right now, then you're probably better off staying out. Although it has been well documented that I am not a big fan of high oil prices (along with the rest of America), I do believe there are better months ahead for oil and gas plays and I honestly believe PLTG is no exception . We're in this business to help uncover and realize above average returns for both you and us. It takes strong conviction to make money in small stocks, but when you discover a gem, it can generate returns you won't be able to find anywhere else in the market. I still believe PLTG may well be one of those gems . It's your call.

Great report in the right time! We saw yesterday something unusual but with this stock everything is fine, we are waiting for many great news, we are in production phase, we are waiting for 10KSB-Filing, Blair buyed a lot of shares on Thursday because he knows that this will be great stock in the near future! Everything is great and yesterday action will be forgotten very soon, with both great news from yesterday we will see today higher sp, who knows, maybe again 0.18$.

Long and strong on pltg!!!


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