If you can play that 1/2 cent price fluctuation, why not? That is a considerable percentage of the price at these levels. However, if they report a decent flow from these ongoing tests you could miss a very rapid spike, and have to buy back in at a higher level.

As to which of the two stocks to buy & hold, that is a matter of preference, as long term there should be little difference.

If, and that is still uncertain, there is a good flow from an untreated well, both will climb in tandem.

If you can sell CQV at 0.021/2 and buy SHP below 32, go for it. Obviously, at $0.02, there is less to be made, but that might be worthwhile.

Personally, I tend to buy and hold like a demented bulldog, but that isnt always the best strategy.