Shareholders getting toyed with on light volume
It's disappointing to see the TECO bulls are unable to keep their emotions in check. Emotions have absolutely no place in trading, yet over and over I see them get overly optimistic at the highs and overly pessimistic at the lows.
When the price was at 2.5 cents I got so many emails from people panicking and ready to dump their shares. I bought more.
When we had the upward surge, I saw all these posts about going down to Belize. I said we needed to see a close above 7 cents for the rally to continue.
Now the price is pulling back on light volume, meaning that it's pure naked short selling by the bears and that nobody is dumping. We also see the bashers out in full force to toy with people, and lots of shareholders griping.
It's seems as if some investors are not fed a daily diet of sunshine by management, they turn around and panic. I've said this over and over, the only thing that matters news wise is material increases in oil production. That's it. That is all we are waiting for and either you believe that is on the way in the next few weeks/months, or you don't.
There is no place for emotions in this business, but yet I see the emotions of fear and anxiety resurfacing. These guys need to realize that games are going to be played with the stock ahead of the major catalyst and all you can do is trust your valuations and your methodology, which is the problem.
Alot of these guys have no methodology, have done no valuation work, and have no context for which to judge Treaty's performance either operationally or in terms of stock price.
I was in a trade on WGAS for 2 weeks. It's another small E&P play. They have zero revenue and absolutely no oil. They are working on a well right now but no oil is coming out yet. One of their key personnel just resigned. I exited my position today with a 25% loss.
I have watched SIOR. They are another oil play. They don't even have a rig set up anywhere! They own "properties adjacent to some major oil fields." Pure speculation. Complete gong show.
I watched another small E&P EGOH which is a complete shell game that has been ripped apart by some of the best DD squads on Iflub.
There's many more I've looked at as possible plays I have looked at and it's just a crap fest. Hardly any of these companies have revenue or any oil production whatsoever and sure as hell don't keep us posted on Facebook or let you call IR if you have questions.
Too many board gripers don't seem to look at anything other than TECO, and that is like dating the same girl you've known since high school and basing your entire view of women purely on that one girl.
Alas, I doubt that many other shareholders will ever bother to pick up Benjamin Graham's Intelligent Investor, flip through any technical trading text book, or do a peer group comparison of other start up E&P plays. They will forever be beholden to their emotions, and their peace of mind will be subject to the latest rumor, press release or whip in the stock price.
That is the mentality that keeps the bears in their position.
