For those of you who have been watching, HDY hit the perfect entry level this morning and rebounded nicely when it was achieved.
I am not a believer in buying stocks when they are charging up the charts. I like to wait for pullbacks to certain retracement levels before accumulating.
Despite having missed the big move off the bottom as news came out concerning the potential restart of the Guinea project, I was patiently waiting for a 61.8% retracement of the surge.
It came this morning as the stock hit the $1.52 mark, dropped slightly below, the rebounded rapidly.
I stepped in for a small opening position of 5,000 shares at $1.75 having missed the perfect retracement. News came out of an office opening in Guinea, and the stock climbed quickly. I will continue accumulating for my own account, especially if the stock pulls back a bit.
Who are the owners of USOIL? What is relationship between GUINA-USOIL-HDY? Who sent this letter to USOIL? What was the return address? Who signed the letter? Is this whole new set-up in Guina the result of a extortion process? Who will now benefit-that did not previously? I have many more questions, but answers to these would be a start. Is there more intrigue to come? Vince
Editor: I would contact the company directly for those questions. All I know is the original rights were owned by a Houston group called US Oil. The rights were subject complete certain steps. US Oil was not in a position to complete the steps, and HDY acquired the rights and moved forward. For details on this issue you should contact the company directly.
What do you know about Conte currently in a coma and close to death. Does this change your short-term view on HDY?
Editor: I don’t know anything about it, but will see what I can find out.
Would you consider the financing from Dutchess to be toxic?
Editor: In short- no- Dutchess is the single best equity line fund available, and they never trade toxicly. Furthermore, I am under the impression that HDY is making their monthly payment out of cash flow, so there is no dilution.
By way of full dislosure, if you read our disclaimers, you will note that I am an investor in the Dutchess fund. Dutchess came to HDY indirectly through me.
The perfect entry level $I.20 TO $1.25 ?? Looks better each market day. Monday or tuesday. If it reaches that level i am considering a buy order.
Editor: In my view, the perfect entry level from a 61.8% retracement was $1.52. It broke a little below, but climbed right back up. Now is definately the time to buy and wait for the next piece of 411 on Guinea.
So now is the “perfect time to buy” LOL If I recall correctly you are now buying back in at a higher price than you sold. You seem a little too edgy to be investing in and giving advice on speculative stocks. Maybe you should stick with the large caps.
Editor: When I sold the stock, I sold the stock in a company that had nothing but a $75 million market valuation and a few natural gas wells in Lousianna that would be lucky to do $5 million annually. I sold a stock that was technically falling apart. Now, I am buying a stock that is in an uptrend. I am buying back a company that has a chance of developing a billion field off the coast of Africa. If you don’t like my observations, no problem. Go read about this one somewhere else. There is plenty of content out there besides mine.
I understand Conte has been in and out of coma for a long time. Sounds as if he have poorly controlled diabetes and may go in to insulin shock or ketoacidosis fairly often. Hold old is this chap? What drugs are being used? Bruce Bochman
Editor: With regard to Conte’s health, I have no idea. Why not contact the company’s internal IR guy- he might be able to help you.
>Chris Watts, 713-353-9400
Cwatts@hypd.com