Panaspor,

In one of your early posts (July 3rd) when you joined this forum, you made a few comments about the decrease in share price and ended by saying:

"Having said that, I am holding on for the long term, regardless of price."

I am assuming that you have changed your investment objectives and are now into trading. As a trader, it makes great sense to do what you are doing. All investors should have entry and exit points regardless if they are investing short-term (trader) or for the long term.

Personally I am invested for reasons previously discussed on this board. There has not been a change in the status of Questerre except the fact that it is oversold. The fundamentals have not changed. If you feel that this company is going to decrease in value, why not short it and make some money on the way down to your $1.50 target for re-entry? If it does go there, it would be an even better entry point than where we are now. In my opinion it will not go there because Sprott and other long-term investors will not let it close below 2$/share (at least not until clarification on drilling results).

It is only a question of time before capitulation. The problem with selling now (for a non trader) is waiting your 30 days to buy back (unless you do not need your tax loss).

With regards to the energy cycle, it does have an influence and it also usually picks up over the winter months when demand increases. QEC, unlike other energy plays had moved positive earlier in the year because of the speculative nature of their holdings in Quebec, not just because of the energy cycle. A lot of the value is based on this potential. Oil and natural gas may decrease in price but the same amount of natural gas will be in these deposits. Will natural gas at 6$ adversly impact QEC - not a chance. There will be less revenue, but still much much more than what is currently reflected by the share price.