A bit of disclosure is appropriate here:
When I saw the posted numbers I rushed to put in an order for shares on the cheap. The order executed immediately and being convinced this thing would rocket or die on the vine, I placed another order. The position stands at 15,000 shares with a cost basis of $0.23872. The next day, about half the gain was wiped out with the balance now at $454 or +12.58%. A bad market day. I'm thinking that CAZFF may drop more on Monday for either of two reasons or even both:
1. Shares may be temporarily inflated due to the startlingly positive report only to drop soon after.
2. Thursday and Friday were turbulent trading days. Another of my oil & gas positions is Abraxas Petroleum in which I've got a 51.48% gain---operates in the same immediate vicinity as does CAZFF, same geology. This other stock gave back half its gains on Friday.
Add it up and I'm urging you to place an order now to execute first thing Monday morning---if you're set on starting a position, that is---with several laddered lowball offers of $0.26, $0.265, $0.27, $0.275---you probably know the drill. Sometimes I forget to think in terms of a half penny but it can save us money. The tiered approach leaves you in more control, especially if you're unable to monitor things due to other obligations.
It's too early to know how the stock will trade this coming week but I'm convinced it will eventually settle down, the day traders will have moved on and I'm expecting shares will triple or better during the next Winter.
I'll be looking to add as well, using the name numbers above.
Good luck in your investing, I hope it works well for us both!
My opinions in the above, of course.
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