Hey Garyst and any others willing to give some advice,
I previously mentioned that I had gotten into XNRG because it was coming off of its 52 week low and had some new increased interest in it.
Since then, it has had some issues. There was a quick run from .0012 to around .0019 or something like that, but then the run was killed by dilution (notes were converted). Around the same time, there were paid posters to help convert those notes. That really killed any momentum, and we hit a new 52 week low at .0008.
After that there were a few days of sideways trading, some ups, some downs, because investor confidence was low.
Now that the paid posters have been gone for a few days, we are starting to see some buyer confidence coming in. There is news pending on oil wells going into production. Tests have shown there is oil, but it is yet to be determined if there is enough oil to make it economically feasible to go into production. We are waiting for this news.
Yesterday we had a lot of buys at the ask (plus some bid support), and today on low volume we have 100 % buys (but not a ton of bid support) and have moved back to .0011. I am cautiously optimistic that we will move back on up, and there will be a good run if we get good news soon (as long as no more notes are going to be converted).
Any thoughts on XNRG?????
(Sorry for the long post)
