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By the way, some nice buying coming in this afternoon.
Path of least resistance.
You can't short this stock................
Anyone that thinks this stock can be short sold doesn't know anything about stock trading and should just leave.
Don't take my word for it, call your broker...
First ask him if you can short it, and watch him laugh.
Then ask him how many shares are being held short, and watch him laugh again.
He will call you a comedian!
That's the glass half empty approach...... To me, a guy that wants to buy it under a buck, the mm will not fill me... So there is no sellers... We have gradually moved from the 75 cent to 80 range and are holding above a buck with no filling below that... With no news it will be tough to go much higher..
If you notice, the market maker is eating up what you want sell at $1.00... When that happens, he's getting ready to move higher..
This is setting up for a nice week, next week.
I'm looking for better then $2 by Oct. 2nd...
I'm kinda stepping out their, but we do have a strong chance...
When we take out the $1.50 level it will rush to the $2 level fairly easy...
If you happy to sell at a $1.00,, go get it, the MM is taking all you have sellers...
But you will be kicking yourself in the middle of next week..
If we get over 40,000 shares today............
We will go to $1.20
IMHO
Pigman
Volume doesn't matter on pinkies...............
If no one wants to sell until, and I know it's a if.... But if no one is selling and you get a few buy orders it's going to go up...
So it looks like the path of least resistance it up.
Crunch man is correct I just called the company and they have no ties to AXIS Energy Corp...
http://www.axisenergyservices.com/ .........................
I see we are getting a new website... This is a plus, to have a professional website compared to their old one...
Right Now VNX is Yahoo's top business.................
I don't know how long they leave it as the top story..
Click on
http://finance.yahoo.com/
Listen Richard, something big is going to happen this week...
You can take that to the Bank (the piggy bank)..
Some big developments are happening for AXIS and we all should know this week or before the end of the month...
Watch the price this week, with no news it is going to go up..
That's all the pig can say...
Stay tuned..
Get ready for a nice week on AXGC...................
Any move above 1.11 is going to cause a nice run to the $2 level and this VNX news should help... This VNX price doesn't matter to us, it's just the fact that it is out of the way... This is the bottleneck for most news coming out of the NOC.. The China news cause a roadblock and all news seem to stop... Almost as if it shock the system..
Ramadan over, and VNX news history... Let's open up the flood gates
VNX News release links.....................
http://www.reuters.com/article/marketsNews/idAFSP47041220090919?rpc=44
http://finance.yahoo.com/news/Verenex-and-Libyan-Investment-cnw-24234619.html?x=0&.v=1
Stock tip for all................
PALM is at 14.01 right now... The chart is breaking down and it will be at $10.50 to $11 range within 3 weeks.
Nice short against a market moving higher.
Pig's technical pick of the month.
Buy 10,000 shares and it will go to a buck..
It would appear that we found some support at these lower levels or it could be that selling at this level doesn't make much sense.
Or just lack of seller is causing it to move higher with light buying. The recent price action would indicate that the path of least resistance is up. A move above the 1.11 area on a closing basis, should create some buying, bring some fence sitter in and if any kind of volume follows could take us to to new highs for the year above the 1.50 level... So watch for a close above 1.11 and for a rally to the $1.50 to $2 level...
I think the market maker has run out of people that want to sell below a buck... He just doesn't get many sell orders down here, on the other hand I don't see alot of buy orders either...
With a 25% spread between the ask and bid, I can understand why no one wants to buy it or sell it.. Close the spead and it may get active...
Just my opinion, but I just don't feel any selling pressure...
It's easier to get sell orders because every share outstanding is already been bought, To get new buyer is the trick here, any kind of news can cause that... But I don't see a news release for AXIS going back years... I don't even know why people assume they have ties to Libya or the NOC... There has never been a formal news release connecting them..
As far as I can tell, the NOC doesn't know AXIS even exist..
So, who cares what happens in Libya.. They have no connection to AXGC.
VNX has been showing huge block of buy order on the bid side all day... You have to wonder if the NOC is trying to grad up some position before they actually put in their bid to buy... Think about it, why not buy it up on the open market $2 or $3 below what you plan to put in for as a bid.. They are probably using this weeks weakness to accumulate...
Can someone email me the AXIS news release when it comes out I will be in my casket by then.. I'm sure the technology will be very advanced by the time AXGC has a news release and my coffin box will be equipped with WiFi....
AXIS is moving up on the list of the top 10 Guantanamo Bay Torchers... Just sell AXGC stock to the prisoners and watch them cringe... They occasionally use water boarding, but that has become boring compared to owning AXIS Energy... The new choice has been sell AXIS stock to the prisoner and they all begin to talk...
And I quote.
"We can't take it anymore, just get that stock away from us"...
News............................................
I understand that AXGC had some news but I don't see any news releases.. The news doesn't have anything to do with the NOC or Libya, so you would think they would be free to have a news release, but nothing...
What's wrong with the investors relation department at AXGC.
No news for years...
VNX deal is basically done... Libya will get it's way and get the company at a reduced price...
This will open up the flood gates... Finally this should open up news releases... I definitely believe they have not releases news because of this VNX event..
This also points to the fact that news can come out during Ramadan.
VNX Link................................
http://www.reuters.com/article/marketsNews/idAFN2519722020090825?rpc=44
VNX ready to play HardBall....................
Important part of this news release is:
Verenex has finalized and is ready to file an arbitration claim should it become necessary to pursue this legal remedy. However, Verenex and Libyan authorities are presently fully engaged in discussions to reach an amicable solution to the current impasse on the sale of Verenex without Verenex having to pursue its legal remedies.
Click on new release link below:
http://finance.yahoo.com/news/Verenex-provides-update-on-cnw-88786422.html?x=0&.v=1
Hey Win4me, you would have to image that is a bonus for VNX and Libya to have that offer expire...
Stop and think about what you just said...
That offer was when oil was $35...
So any new offers on the table will have to be JACK-ED UP...
Benefits VNX.... And NOC will have to come in with a better offer.
Analysis Target prices for oil by year end is about $100 per/barrel.
Giddddy-UP.......................
VNX news is coming....
AXGC will follow...
Verenex caught alot of buying at the end of the day.....
It's been going up all week and the volume came in on the buy side in the few minutes...
Click below for the 5 day chart, note the end of today's volume.
http://finance.yahoo.com/q/bc?s=VNX.TO&t=5d&l=on&z=m&q=l&c=
Verenex over the last 4 days has made a nice percentage move... I have to wonder, so many times share prices make a move just before news releases..
I'm a firm believer we need to get the VNX buyout resolved before any other news will come out of Libya..
4 days ago it was $5.90 and now it is at $6.79 Canadian...
Symbol VNX.TO on the yahoo Finance page...
No one picked up on this news????????
Looks old!
18.03.2009 09:50
3rd UPDATE: Libya To Buy Verenex, Block China Deal -Oil Head
By Spencer Swartz
Of DOW JONES NEWSWIRES
VIENNA (Dow Jones)--Libya's top oil official said Wednesday Libya will exercise its first right of refusal and buy the assets of Canadian oil producer Verenex Energy Inc. (VNX.T), blocking a roughly $400 million deal that China had sought with Verenex.
Libya will pay the same amount for Verenex that China National Petroleum Corp. had agreed to pay, Shokri Ghanem, head of the Libyan National Oil Co., told Dow Jones Newswires on the sidelines of an energy conference here.
Libya is moving to buy the company out of "commercial interest" as the North African country tries to boost its oil-pumping capacity, Ghanem said.
"There are some formalities we are working out, but we are going to exercise our right to buy Verenex assets," Ghanem said.
Verenex and CNPC weren't immediately available to comment.
With around 42 billion barrels in proven oil reserves, the biggest in Africa, Libya is hoping to raise production capacity from around 2 million barrels a day to 3 million barrels a day by 2013 with the help of foreign oil companies.
Verenex Energy said in late February that China National Petroleum Corp. had agreed to buy the company. But a preemption clause in that deal gives the Libyan government the right to buy Verenex's assets.
Calgary-based Verenex said last month the all-cash deal with the Chinese company's international arm, CNPC International Ltd., would be for 10 Canadian dollars a share ($7.97 a share at the time), a 28% premium to the company's closing price Feb. 25 on the Toronto Stock Exchange.
Verenex's main asset is its 50% stake in an oil block in northwest Libya, an area rich in hydrocarbons, along with other assets in the area.
China had hoped to add Verenex's assets to a hoard of others that state-run Chinese energy companies have been snapping up around the world in recent years to secure supplies for the country's development needs.
Ghanem downplayed comments from Libyan leader Muammar Gaddafi in January in which he said the government could nationalize the assets of foreign oil companies due to the sharp fall in oil prices. Gaddafi has yet to make a final decision on the matter.
VRNXF moving higher on the Ask and Bid....
Yesterday's move on Verenex is getting some nice follow thru...
It moved from $5.47 and closed at $5.87... Nice percentage move..
Today they asking $6.0620 U.S. Dollars..
Gidddy-Up
Just an Anxious Buyer....
Looks like the Pre-Market was just someone anxious to get in...
AXGC just traded in the Pre-Market..
I never seen this stock ever come close to make a transaction in the pre-market...
Just traded 1,000 at 1.15
And the Ask and Bid just move higher to 1.14 to 1.15
As Kramer said.... GIDDDY-UP
VRNXF or Verenex may be the first to move before AXGC..
I believe VRN on the Toronto exchange will give us the first indication something is stirring.. I don't believe any news is coming out of the NOC or Libya until that problem is worked out...
If VRN moves higher watch for AXGC to follow...
IMHO!
The PIG
Pre-Market Ask/Bid...............
Normally there is none on AXGC (usually a big spread like 82 cents to 1.13)...
This morning it has moved up to 1.10 to 1.15...
Wow, maybe something stirring, or maybe not...
OINK
VRNXF.... at e-trade actually trades in U.S. Dollars... My mistake...
But it has since bumped up to
yesterday close of 5.475
This mornings bid is now 5.7510 and the ask is 5.8320
VRNXF is the Canadian symbol for Verenex used on E-Trade..
Shows yesterdays close at 5.4775
This mornings bid is 5.6910 and the ask is 5.7320
Must be Canadian dollars???
Wrong kaeamrjs.........................
If you want to be very precise, my last call was the dollar was breaking down which in turn will send oil up... Check my last post.
So you statement is false..
Not precise is when new will breakout... To re-word my very old statement, we will hit $7 when news breaks. No date because I don't control what the NOC will allow...
How's that!
Oh!... to make you happy it will go to $2, then to $3, then to $4, then to $5, then to $6, just before it gets to $7..
I hope I didn't leave anything out for you kaeamrjs..
OINK! OINK!
Dollar Chart is officially breaking down today....
Oil as a trading vehicle has not been moving due to fundamental reasons, Oil has been moving in reverse of the dollar... So when the dollar has been trending lower the oil prices have been rising..
If you follow the technicals, the dollar has had a falling wedge formation and has gone to yesterdays levels in the mid Nov. time frame where it found support, then it bounced off that level at the end of May, today we are breaking below that support level, so expect next weeks big new to be the dollar is faltering... Professional traders have spotted this and ran Oil up today...
So for all that think we need Oil to move up to help AXGC, expect a run in oil, a breakout to the upside and a breakdown in the dollar...
Pinky Pump and Dump......................
I have to say that I been in the market since 1983 and I have played my fair share of Pink Sheet Stocks... They were great during the dot com era...
The one thing that I like about AXGC vs. all the other pinky I have ever played, is the fact that no news releases have been coming out on a weekly basis.. Most of the "pinky pump and dumps" I have seen continuously pump news out on a wekly/monthly time frame... I can't find one news release on AXGC for 2 years... So this company is not doing any pumping whatsoever... So we have no false hope built into today's share price...
The stock is moving up and down on very low volume (pushed around very easily), so with any kind of positive news release or if a positive news release is coming, we should see a dramatic move... I'm in the camp that the move will happen days before the news release... I've seen it so many times when news comes out the stock has already made the move... So the game plan has to be buy, sit, and wait...
The classic mistake when this happens is most people say no news and the price has increased, so I'm going to trade out and get back in later.. You sell and it keeps going, now what do you do... Chase it or just go through the pain of watching it run without you.
Best regards,
The Pig
Hey Rich, Think about it... Doesn't make much sense to sell at a buck or at $1.50.... This stock could have a 4X move to a 6X move before the end of the years... Where else will you get 500% on your money over the next few months... Anyone that sells now will be regretting it soon...
Like I stated in an earlier post, this stock doesn't move with the price of oil... Yesterday oil had one of it's biggest down days in a while and this stock was up 10%... No long term tracking whatsoever.
Never look for a pinky to move up with the market or down with the market... The big key to pinky has always been news...
Let the waiting game continue...
Nothing for sale......
Been trying to buy all day.... Everytime I move the bid up nothing comes in for sale... This thing is going to move up real easy if we get any kind of positive news..
That's cause I wired 20 grand to my broker this morning when I saw the ask drop to 99 cents this morning... By the time the money got there the market maker moved it up to 1.14.... So I bought 100 at 1.14 for the fun of it..
He won't move it below a buck with me waiting in the wings to bang away at it.