Zion Oil & Gas Inc (ZNOG)

[BrokenB4Blessed]

I think this is wonderful news for ZN and Israel, and I'm already a ZN stock holder. However, let's not get ahead of ourselves. I see the short traders swooping back in to reposition, as there will probably not be much to report on, except TD reached which we already know. Optimistically enthusiastic feelings aside, until there is confirmation of a commercial find that is of a production quantity, there probably isn't enough in that message to scare away shorts from repositioning. They might cover today, but will there be a sustained buying interest to overtake them as they reposition? I have my doubts. Until the institutional investors flock in, the shorts will probably drive this back down. $5 million is nothing. I applaud ZN for not diluting the stock further, but this stock is a traders dream on the open market. Short term, do not expect this to go straight up. Good things are indeed happening to ZN, but we are still going to have some turbulence. If I'm wrong, then good for ZN, but I'm betting that this drifts lower in the days to come.