On Charts View iii I often talked about a Duster Entry strategy. I found this very successful with SQZ 3 drills on the trot!
But after a Bad experience with CAZA (Woof!) I want to be careful with post duster entry points.
Look to see where they go first!
I do not advocate buying and shorting pre results because Oil companies can fly if they find oil.
This is a strictly buy after the duster announcement strategy!
Bridge BRDG reported that some targets had no oil although "hydrocarbons" have been found.
Very suspicious of such wordings. They are down 22% but have current production and cash in the bank.
Newly listed IPO so charts are junk.
NEW are currently drilling and I suspect a bad result reading the last RNS. But they did a placing at 9p so have enough cash for 2 more drills. There is support at 8p but if this goes 5 or 6p could follow. The SP should recover in time for the next drill with a 10p target exit before they start drilling.
BLVN are currently drilling and there is major support at 36p. Supports above this but with a poor technical record this one should get caned hard if they come up with a duster!
