Different traders have different styles. If he is looking 18 months down the road you may have an opinion but still you can't guarantee he won't come out. Look at all the people who wouldn't touch FNMA and many others. Boom multiples for profit. Didn't happen over night either.
Whatever the price of EOX today or tomorrow; whatever the chart says today or tomorrow; whatever they both say today or tomorrow does not tell what the price will be in 18 months. We may not know what part exactly dilution will play, but given current cash and potential S-3 funding the odds are better than even EOX will be a going concern in 18 months. Not likely that White Deer is just going to let this die after putting in another 26million dollars on top of their previous 50+million dollars. They have a seat on the board and were part of the S-3 decision. There is a plan...we just don't know it yet.
Lot's we aren't privy to. If olin07 feels comfortable enough with fundamentals etc. more power to him and I wish him every success and will applaud that success.
A few years ago I was on a board that talked a lot a about a gas pipeline company and many of us traded in and out. When everyone was bailing at 1.05 and lower after the company had been multiples higher he was nibbling. His lowest buy was .23. He took a lot of flack and ridicule. The balance sheet was ugly. When it started up, People called him crazy for holding at .75, 1.50, 5, 7.50. When it got to 12 there were even more vocal and unkind, uncomplimentary things said when it dropped back to 7.35. Well long story short he started selling around 18 or 19. More stuff said for not selling it all. When he cashed in his final chips in the low 30's he had banked over $600,000. Whole process lasted 3 years. Whole thing documented and played out on the now defunct "clearstation".
Ask questions, fine, but root for everyone. (Except the self serving and manipulators)
Thats my story and I'm sticking to it.. :-) All IMO.
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