AI
Wednesday, September 02, 2009 5:41:31 PM
BYSD just featured in the Bull Market Newsletter! Nice annotated chart and a great summary of the company. This should create some additional interest tomorrow. I fully expect some ask slapping considering how tightly held shares are held.
BYSD is the new stock of the hour!
Website - http://www.baysidepetroleum.com/
With our past two trading ideas based in the green sector (AWSL and KNDR - both have done very well for our members), we wanted to find something in a different sector that we thought would be able to benefit from a broader economic activity. This is why we talked about the continuing weakness of the US Dollar in yesterday's email. Because the oil sector is tied closely to the value of the dollar, we feel that BYSD is positioned nicely to make a move upwards based soley on our expectations of a weakening dollar.
Besides the US Dollars continued weakness, we like what we see from the company; especially from their latest news release yesterday evening. The press release was titled Bayside Petroleum Company, Inc. to Acquire Oil Producer Nueces Valley Resources, Inc.
Some highlights from the press release (Source - click here):
* signing of a Letter of Intent covering the acquisition through a merger with Nueces Valley Resources, Inc. (NVR)
* merger of the two companies is expected to be successfully concluded during September 2009
* NVR owns and manages oil production of approximately 100 barrels per day in South Texas (Dimmit, Frio, Zavala and LaSalle Counties) and in N.E. Kansas (Douglas, Franklin and Miami Counties)
If you would like to speak with someone from the company (which we always highly recommend to do), below is the contact information.
Bayside Petroleum Company, Inc.
Gordon H. Johnson
Chairman & President
Phone: 972-726-2222
We have also been told that there should be more news released in the coming weeks, so this is not a situation where the company will go quiet all of a sudden. The company has not had much trading volume in the past few months (excluding the more recent activity), so this is what you can consider a "fresh" play.
From a technical analysis standpoint, the chart is really showing an increase in interest and strength. This week has seen the volume come pouring in; however, we feel that this is just the start of a bigger move. Today's action was very healthy. The price held up nice, but the key bullish part was the much lower volume than that of the "breakout day". Looks like a few profit takers got out today, but this is all healthy since it is now building a higher base.
We feel that the current location of the chart makes an attractive entry point. Had it been yesterday, we would have advised to sit on the bid and buy shares; however, with today's consolidation day, it was just what the doctor ordered.
The next key breakout point is at $.75, and with a break of that, the bulls could begin to push this upwards again.
As always, below you can see an annotated chart of BYSD.
Technical Chart
bysd
As the dollar continues to fall, and gold prices rise, the oil sector will benefit from these types of activities! As is the case with any penny stock, BYSD is speculative, but as the saying goes, the higher the risk, the higher the reward. Good luck to all, and we look forward to harvesting profits with all our members!
Regards,
Bull Market Newsletter Staff
BYSD is the new stock of the hour!
Website - http://www.baysidepetroleum.com/
With our past two trading ideas based in the green sector (AWSL and KNDR - both have done very well for our members), we wanted to find something in a different sector that we thought would be able to benefit from a broader economic activity. This is why we talked about the continuing weakness of the US Dollar in yesterday's email. Because the oil sector is tied closely to the value of the dollar, we feel that BYSD is positioned nicely to make a move upwards based soley on our expectations of a weakening dollar.
Besides the US Dollars continued weakness, we like what we see from the company; especially from their latest news release yesterday evening. The press release was titled Bayside Petroleum Company, Inc. to Acquire Oil Producer Nueces Valley Resources, Inc.
Some highlights from the press release (Source - click here):
* signing of a Letter of Intent covering the acquisition through a merger with Nueces Valley Resources, Inc. (NVR)
* merger of the two companies is expected to be successfully concluded during September 2009
* NVR owns and manages oil production of approximately 100 barrels per day in South Texas (Dimmit, Frio, Zavala and LaSalle Counties) and in N.E. Kansas (Douglas, Franklin and Miami Counties)
If you would like to speak with someone from the company (which we always highly recommend to do), below is the contact information.
Bayside Petroleum Company, Inc.
Gordon H. Johnson
Chairman & President
Phone: 972-726-2222
We have also been told that there should be more news released in the coming weeks, so this is not a situation where the company will go quiet all of a sudden. The company has not had much trading volume in the past few months (excluding the more recent activity), so this is what you can consider a "fresh" play.
From a technical analysis standpoint, the chart is really showing an increase in interest and strength. This week has seen the volume come pouring in; however, we feel that this is just the start of a bigger move. Today's action was very healthy. The price held up nice, but the key bullish part was the much lower volume than that of the "breakout day". Looks like a few profit takers got out today, but this is all healthy since it is now building a higher base.
We feel that the current location of the chart makes an attractive entry point. Had it been yesterday, we would have advised to sit on the bid and buy shares; however, with today's consolidation day, it was just what the doctor ordered.
The next key breakout point is at $.75, and with a break of that, the bulls could begin to push this upwards again.
As always, below you can see an annotated chart of BYSD.
Technical Chart
bysd
As the dollar continues to fall, and gold prices rise, the oil sector will benefit from these types of activities! As is the case with any penny stock, BYSD is speculative, but as the saying goes, the higher the risk, the higher the reward. Good luck to all, and we look forward to harvesting profits with all our members!
Regards,
Bull Market Newsletter Staff
