The one thing that I have in abundance is opinions. But first, any comment here is not meant to denigrate any other opinion.
To me, the difference is a matter of scale. True, you and others have holdings large enough to drive the stock price lower, even to ‘zero’.
But for how long? Hours? A day? Days?
Once those holdings are exhausted, if there were not enough others frightened in to following with a similar reaction, then the price will rebound. Upwards. And then, it was all for naught. That is the real ‘zero’ in the equation.
It is simply a matter of scale. And our level of scale simply does not matter. At least, not that much.
As was mentioned by spec, there are 1.3B shares in play. I think that is a good number. So to me, that means we (all of us here), are shrimps and minnows swimming in a sea of whales and sharks.
Until those guys break ranks, nothing the rest of us can do will cause very much of a permanent ripple in that sea.
So I say that the time to “fold ‘em” is when the whale gives up his stake. So as you surmised, like it or not, we are all in it to the end from here. But at least the trend is turning.
The whales just really do not care about the stock price at this point. They are not trying to make enough profit to pay for an appetizer with their meal. Not even enough to pay for the whole meal.
No, they want to be able to buy the restaurant and the building it is located in. So they are looking far down the road, not looking at their watch.
It may be wearing us out, but the best strategy could be to sit back and watch it play out. As long as the whale does not see the road ahead as a dead end, the journey continues.
After all, there is no real volume to sell to at these price levels anyway.
I suppose that prices must make a fairly large upward move if there is to be any meaningful increase in trading volumes.
I can only imagine how crazy things might get when any news breaks. Just the thought leaves me giddy.
Once the stock makes it’s move, I hope I can keep up with it, and not be tempted to quickly sell out. Another reason I am destined to never be a trader.
For those feeling the frustration in this situation, just rejoice that you did not already sell your shares, while hoping to buy the shares back at a lower cost basis. Good luck with that plan.
Also remember, this is but another opinion amongst many others. And do not shoot any of the messengers.
Be comfortable with the investment decisions being made. This advice alone is worth the full price being paid.
Finally, the Covid Crisis appears to be waning. And even better, obstructionist government is about to be stalled.
The demand for oil and gas will not be diminished. Therefore, the money will follow that demand. And the game is not ended. Still in early innings.
Mrs. Smith
