April 1, 2010
Beware the Fool ! Be not the fool – on this day!
Beware the Fool ! Be not the fool – on this day!
The next level of support comes in at $7.50 then at $7.00. I think that you may have to wait till the summer to get a reversal of the current trend.
More than 2.8 billion people almost half the population of the earth lives on less than $2 a day. 1.2 billion people about 20% of the population of the planet live on less than $1 a day.
If BOE can get its production to 4,000 barrels of oil per day by this time next year and take advantage of its land base it has a good chance of moving higher.
I think patience will serve you well until the selling is behind us. Watch the MACD, fast stochastics, and the volume for signals that its time to head to surface.
Currently the stock is trading below the 50 and 200 day moving averages and is currently in a downtrend.
At this point it appears that ENA has gotten ahead of itself and needs to consolidate its recent advance before it can break above resistance at $0.65.