"the spread"
the difference between the bid .0088 and the ask .0199 is more than 100% difference.....
it only took 400 dollars worth of buying power to take out shares offered at a penny and we are near two pennies if anyone wants to build a position today......
what does that mean?
there arent many sellers, including the market maker at the penny mark.....although any negative news with fep.l will scare some investors to unload some fecof shares and tax selling to offset some profits from the redhot stock market this year, will also give us some volume/selling in late december................i'll scoop some up in mid to late december under a penny if it comes to that
But overall this stock is getting very tight on people willing to sell their shares at these prices even though its still lacking buyers as well.
summary
any positive news will skyrocket this stock in accordance to the tight supply of shares....
there might be people more than happy to unload at 4 pennies after such a long wait.........and only time will tell if the buying power will outnumber the sellers at those levels when that time comes.
the warren buffet way is also to just buy and hold stocks that will have a growing cash flow and to disregard whats popular to do in the short term,,,,,,,,,,,,he also has preffered shares and majority ownership in those companies which gives him a one-up against the rest of us<writing profitable call options>........but regardless the strategy to hold a company until it becomes the giant it can become has proven a winning strategy for him....
I sometimes worry that the philipines might just let this contract expire and squeeze out pangilinan/fep.l.................he has to walk a fine line with them, but they should keep extending while the conflict exists.
I also have to admit that the fact the chinese let cnooc meet with fep.l it shows they validate in some way fep.l's service contract despite the fact that they say they/china owns the reed bank........lots of contradiction there......
when i said in the previous post that this could be a 12 cent stock i mean thats the stock price it should hit on the day of signing an agreement where someone like cnooc or shell.etc........is willing to pony up 5 bil to become a part of this service contract/company.........if you are willing to wait 8 years you can see much more...over a dollar.........the biggest percentage increase in stock price should happen within the first 3 years.........after that i will probably diversify and see about doubling that money in other stocks.
