My Front Porch

[MiamiGent]

ORIG I'm in at 1.37 avg
Expecting a double
See my recent posting history for dd, inc this:

ORIG TG for Sat morns, without commitments. Can do a little enjoyable dd, listening to van the man

ORIG is a highly speculative play and it is not an overstatement to say commons could be wiped out in the future- long term it could drill a hole in our wallet but short term it could have us gushing
I am going to stay in and avg my 1.42, now 1.37 PPS down. Why? A few potential catalysts could send this:
First, Opec meets Nov 30 and Morgan Stanley gives 75% chance of an agreement (to a cutback in output, raising the oil market, benefiting drillers). The PPS would shoot up- even if ultimately OPEC was unable to really implement an agreement.
Second, Earnings are around the corner. Last Q was excellent but the CEO's talk of possible BK held the PPS in the gate. Many hold this talk was posturing to gain leverage over bond holders and not much more than a Safe Harbor" utterance at that time, as there was and is plenty of liquidity. As the company has been buying back bonds at a discount and current bookings good, expect a very good ER. Just hope the CEO was and is done posturing for the time being.
Third, there is a favorable chart formation. ORIG has entered Wave 3 of its Elliott Wave cycle. This is a bullish signal. Under this theory, the PPS could reach the mid-June highs in the time ahead, about 3.30. That would be more than a double- what I'm looking for!
OK, now laundry and clean the car- we can run but we cannot hide.

MG