Jim Letourneau's Blog

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Patience and Persistence

Oilexco (OIL.V) has been mentioned here before as an interesting North Sea speculation. We even talked about the potential for some geologically interesting and economically important tilted oil-water contacts. Sideways action for over a year can be trying. The great run from $0.15 to $4.30 is long forgotten.

Daniel Bernoulli stated that the utility resulting from any small increase in wealth will be inversely proportional to the quantity of goods previously possessed. Human nature dictates that people will get bored and dissatisfied with Oilexco. They would rather look for the next Oilexco than wait for the one they have to finish consolidating. Eventually a new group of buyers attracted to Oilexco's value will start to take the reigns and drive the price higher.

If you're expecting another leg up and don't want to miss it you could set a price alarm near the overhead resistance.