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Message: SP...here's what I think (and its only a theory)

SP...here's what I think (and its only a theory)

posted on May 12, 2008 09:10AM
I,ve rode this rollercoaster before with other company's, and I believe that what we (small shareholders) of ENG are experiencing is once again a share price decline resulting from a group or groups of larger investors (perhaps hedge fund(s)) that own some millions of shares and who can afford to short their own inventory so as to bring the share price down to a level reflective of a floor around the $2 - $2.20 range in the hopes that they can obtain more shares from the weaker and emotional investor who capitulates in this price range. This strategy then enables the bigger players to reap the rewards when the SP shoots up upon a discovery. Remember, this is only a theory I have, yet it seems to have been the pattern I've experienced in the past (with other stocks...where the SP declines are substantial, with little volume in the ask and bid). Unfortunately, the bigger players will always control the board, and there's very little a small guy can do about it. I think that the low volumes we've seen in the last few sessions are an indication that the sell off is weakening (perhaps a double bottom) and that as we get closer to drill results on the Kunene#1 test well, we should see an increase in interest and a upward move in the share price. and this upward move will at some point be quite swift and sudden as the shorts try to cover. Hope this helps. Staying LONG!!!!!!!!!
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