Club Mulgoa

Thursday, August 04, 2016

MEO

When I read that it has high potential for successful oil discovery in Cuba, I bought shares in MEO at market price.  Of course, after that hype, the price fell to earth and I was left nursing a loss.

I put a higher sell immediately in case someone wants the shares badly.  I am still nursing a loss but I have just noticed a write-up in the AFR so tomorrow, unless price of oil or Wall St falls badly, the share price will almost certainly go up.

1 Comments:

Blogger Club Mulgoa said...

Yes, it did go up and then down a little to 4.5c.

If it does find oil onshore, then it will run again. Until then, I expect the share price will drift downwards again. Whenever a journalist writes, investors listen but the share price rarely holds!

5:28 AM  

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