Re: trading...
in response to
by
posted on
Oct 22, 2008 12:05PM
(Edit this message through the "fast facts" section)
Well said, and I agree. It isn't that there is a lack of support per say or huge interest, it's just buyers are few during days like these and times like these...so that only shoots stocks down with no support. Like we mentioned, news is what we're waiting for. Hedge funds still bought into this because they saw the potential, and I am sure they would rather be holding instead of liquidating everything they own, but that's the problem with buying on margins etc. I think we are seeing more and more strong hands take hold (as you said). The market has priced too much bad news in already and clearly overshot...but some are still so freaked. Everyones all happy when we're up 700pts...but two down days and then it's panic all over again. People buying now will be the ones to benefit in years to come. It's all about looking to the long term and even more so for a stock like QEC.
I think we've all heard about markets overshooting when they go up, and when they go down...which is why, with good results, we'll go higher, but once confidence comes back and people stop fleeing at any price and panicing, we'll go even higher than we did before, because speculation is taken out this time around, and it becomes a question of when.
I mean, all it took was forest to say we hit 1mmcf/d on a vertical frac to shoot this to $6+, speculation or not....with a string of solid news and slowly proving this up, we could easily see higher prices...but longer term holders as many IA's could potentially start to recommened this as a good long term growth company, or take out candidate!
Rocco:)