KAR
Picked up a small parcel of KAR this AM. It found oil off Brazil and it has plenty of cash at hand since selling off its tenement in the NW Shelf in WA. Under normal circumstances, the share price would have ballooned but with the price of oil at its trough, no one is interested. Yet, everyone knows that the price of oil cannot stay like that forever. In punishing the US shale oil producers, the OPEC countries are hurting themselves. And if no one explores when oil price is down, when it goes up again, there will be no new oilfields to tap on. Hopefully, I am right!
posted by Club Mulgoa @ 4:14 PM
2 Comments:
So nice to see such a big jump after I bought! And I have no regret that I didn't buy more.
I paid $2.23 and it leapt to $2.50 today. I am not always so lucky and I don't expect a rise tomorrow... more a fall!
Even better, it went up by another 20c. I feel 'sorry' for the guy who sold to me on Thursday for $2.23. That is a dramatic 22% rise over 2 days. However, I would ask why sell when all KAR has been doing is announcing good news? The price of oil cannot keep falling.
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