Zion Oil & Gas Inc (ZNOG)

[WiseYoda]

I agree as it poked at me as well. After loading heavy at .90 I held as long as I could but couldn’t pass on the AMC train. I sold my positions nearly two weeks ago including ZNOG and took position there which ended up being the right move. I pray that longs recover their losses here and ZNOG flys again. Ill be watching as I brought in two others who are still holding. The way ZNOG ran to $1.70 before the spudding of the well was a strong indicator of how she was going to trade but thereafter she struggled to stay above a $1. At this stage I believe it was a bull trap as the market isn’t buying the story here anymore unless they actually strike oil. Management rewarding themselves shares at this stage while collecting a salary is a poor decision. Collecting a salary is one thing as everyone must live, but being rewarded shares is another thing. To assure themselves a bonus whether they strike oil or not is not the way to incentivize success. They would argue that share incentives are in their agreements but why require such incentives in the first place? Pay a top salary and do your best to get the job done and give incentives to succeed and not whether or not if you do. The way to motivate success is to incentivize it, and not, whether you succeed or not. Anyhow, hang in there longs....Im praying they hit oil and if so Ill be ready on the sidelines to jump back in. Ill end up chasing it because if they hit oil this stock will be moon bound. Blessings to you guys.