They probably cost long-suffering longs to lose a lot of money by getting them to sell on the lows.
Although youre probably right on that it lends itself to the importance of making your own decisions. Never should anyone be trading based on the advice of someone else, not even a professional, and certainly not what you hear on a chat board. Do only what you yourself are comfortable with. AND, blame no one but yourself for your mistakes.
Having said that, and I have been one who has been neutral in my feelings on this stock, this latest run is simply enthusiasm on having someone new in control and a couple of promising PRs (that no one can prove the validity of anyways). Remember the old saying - believe none of what you hear and only half of what you see. We have also been here before, when the pumper group showed up last year they managed to drag this up to .006. As excited as we all are to see some upward movement we still have to call a spade a spade. There is a long road ahead, even if the new guy manages to right the ship there is no working capital and the OS has been used up. That means raising the OS or an RS, of which the effectiveness of either will depend on whether this company is still being used as a dumping ground or not.
Ive alway felt that the business they wanted to do was viable, but the past has proven that wrong. Having higher oil prices means nothing if they cant get a well to become viable. Of course besides that there is always the merger or acquisition possibilities.
Knowing all this I will be selling my shares once I break even, or get as close as I can depending on how the situation looks. I wish good luck to anyone who remains for the longer term but please keep in mind exactly what you are holding here.
Last but no least, as I said in the first place, take this post for what it is - something written on a chat site (I wont be offended:).
GLTA
JMO
Ott
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