ONR

[garilou]

If I understood the lessons properly about the filtering system introducing delays, even if ONR was appearing as a BUY for June 23 in the Price Momentum Weekly, I should not buy until a BUY order appears in a least one of the other portfolios.

There has been a huge gap up on Friday also with a huge volume, today it started also with a big gap nut it seems to be going back down somewhat: I can understand the profit taking... not everyone waits for a 70 to 100% gain.

I find it hard to wait 

[DCA]

Do what I do -- take this as time to check out the stock, kick the tires, review the last few quarterly reports.

Ask yourself if the stock had come to your attention by random means would you consider buying it?

[bryanmcn]

Look at the 6 months chart of ONR. It has a habit of spiking and then drifting sideways or lower for a few weeks. I will wait.

[garilou]

First, thank you DCA, but you did not really answer my question. I was not asking "should I buy or not?", I guess this is my own decision and responsibility.

I just wanted to confirm, if I went "to the book", after the articles I have read, that I should wait a confirmation.

As to doing some other fundamental researches, I always do them... doesn't mean that I'm always right: some fundamentals (and still worst analysts recommendations  ) seem so good, and the stock keeps moving down...

Between your answer and now, I have looked at different things : insiders buys (positive), but at prices very close to most analysts targets that have been reached already.

Next year EPS estimates show a big % increase for this (08) year and next year, that could already be in the stock price.

What lets me septic:
They show a fantastic revenues increase between last quarter and the same last year:
Petroleum and natural gas revenue (1) $ 9,166,898  107%
BUT: (1) is a note saying that those include realized gains on commodity contracts: I guess those who speculated on gaz and Oil commodity contracts have made huge gains in the past 12 months....

Anyway, they show a nice progression.

Technically though, the stock seems overbought in the moment, and my conclusion (independently of SSP recommendation) would have been like bryanmcn's opinion... wait and check regularly.

Thank you DCA and bryanmcn

[DCA]

Rumours of Sprott interest and a 'Top pick' on BNN.  This most likely triggered the SPP buy.

I expect an SPP sell before it gets to V3
I only buy before V3 if I think it will easily climb past V5.

[Victor]

Hi DCA,

Do you base this on visual inspection of the chart, or do have some tools to help determine this?

Cheers,

Victor

[garilou]

Hi Victor and DCA,

Although it made another jump up today, I'm glad I've... (we have?)  decided to wait.

The stock is still higher then yesterday, way over it's 200 MA, but with much less volume.

So tonight candlestick pattern is somewhat bearish, or at least shows the beginning of hesitation from the buyers after yesterday's gap up.

IMHO the stock is really oversold.

But still I think it go pretty high up eventually.

BTW, DCA, I did not find ONR as a "top pick" on BNN, could you give me a link? As for the rumour... don't they say "buy the rumour sell the news"...
I could not find the rumour either...

[desus]

I expect an SPP sell before it gets to V3
I only buy before V3 if I think it will easily climb past V5.

So...

Now that ONR has made it to V3, any thoughts for what the coming weeks hold? 

I am a bit hesistant to jump in after this latest dip - although realize it is likely related to the general market correction.  Nonetheless, I am Feeling like I need a bit more time to see how the technicals pan out after the drop... any other thoughts on ONR?

[DCA]

ONR is a company ripe with rumours.  The rumours is what is driving the current momentum spike.

Currently, the pull back would appear to be due to the general malise in the market.

They are due to release results from Rough, Alberta drilling soon.  With that release the stock will either crash (and SSP will issue a sell order) or it will return back up.

Good opporunity to get a taste although I am not quite ready to load up.

[garilou]

Hi, DCA
Funny, a while ago you expected a SELL order before ONR would get to v3, and now we receive a BUY order in v3!!!

I've made my-self a reminder note in my calender to look at it again in 15 days. I also do not feel reading to "load up".

My motto is often: "Stocks you don't own never hurt you!"

I'm chicken? sometimes yes, because my only CND cash available now is in my RRSP, and although I keep a very little percentage of it for stock trading, it's gone down in the past few weeks.
Too bad one cannot short in RRSP 

Monday I'll short IMN for the 3rd time...

[desus]

I think a bit of a wait is in order - I think a trend might be confirmed by week's end though.  The v1 buys are looking attractive, might consider grabbing MOX a bit early...

[DCA]

Yes I expected a sell before V3.  I was wrong.  Please note that I am wrong more often than I am right and judge my opinions accordingly.

D

[garilou]

Oh please DCA!
I wasn't judging you at all.
I must have used the wrong words if this is what you understood!
I was as amazed as you for sure, and as to the fact as how often we are wrong, there are 2 different things to consider:
1. the orders that we expect (or do not expect) from SSP.
2. the real orders that we give in real life (whether acting or not on SSP and/or on other stocks).

I think one is good when one is right 6 times out of 10!
I do not know why, it is only on short sales that I am right 8 out of 10 times.

But on Canadian stocks, gees I'm wrong so often!
And because - apart from the shorts - they are in my RRSP, this makes me more mad. Still lucky that I never loose sleep

[garilou]

For what that's worth... 

jeudi 31 juillet 2008

Open Range Tgt Raised To C$9 From C$6.75 By Tristone

jeudi 31 juillet 2008

Open Range Tgt Raised To C$9 From C$6.50 By GMP 

More interesting:

Since May 5 2008, mots of insiders buying, and not one sale!

Let's still hold for it for a while.

Louise

[desus]

I agree on the hold for ONR.  I entered a while after the original Buy, figuring this one would continue to be sensitive to the general unease.  I  think this stock will soon return on its path upward.