Broke out of an ascending triangle a couple days ago. :)
Volume has been very impressive the past week. :D
Not a huge chart history, but one to watch.
Im liking TNEN a lot KS :)
HOUSTON, TEXAS, Aug 10 (MARKET WIRE) --
True North Energy Corporation (OTCBB: TNEN), an independent oil and gas exploration company, is pleased to announce that effective July 28, 2006 the company has entered into a one well participation agreement with Whitmar Exploration Company ("Whitmar"). Whitmar is acting as the operator on the well.
The program consists of drilling one 13,000 foot well to test the Yegua Sands on the Deweyville Prospect located in Newton County, Texas
The Yegua trend sands in the area have documented productive wells dating back to 1935. The play has been recently rejuvenated by significant field discoveries along the trend. An adjacent field to Deweyville Prospect, West Starks Field, produced in excess of 40 billion cubic feet of gas and over 6 million barrels of oil since its discovery in October of 1988.
The drilling operation on the Deweyville prospect started on August 5, 2006. The well is currently drilling at 5,400 feet.
By participating in the drilling program, True North will earn a 10% working interest on a 72% net revenue interest in the Prospect. True North Energy will pay 12.5% of well drilling costs before casing point and 10% of all costs after the casing point. The company will also pay its proportionate share of prospect costs including geological and geophysical costs, third party prospect fees, land brokerage costs, lease bonus and all other costs associated with the Prospect.
Under the agreement, True North Energy has an option, but not the obligation, to participate in additional well on the prospect by paying its proportionate share of the costs.
John Folnovic, True North Energy Corporation President and CEO, said: "The Deweyville Prospect is consistent with our strategy to increase geographic, play type and risk diversification of our North American portfolio."
Looks good to me too!
In at 2.47 ;D
Quote from: boatguy on August 10, 2006, 03:25:44 PM
Looks good to me too!
In at 2.47 ;D
filled a 1/2 at 2.44.
lets make that paper boat :)
In @ $2.22 (Monday). Target $4.44. Good luck to us!
Its showing up in my filter everyday too ;)
Look like ready to break the moving average resistance above (200sma & 200ema)
I guess we all agree then ;D
Now it just needs to go UP! ;)
Website
http://www.tnecorp.com/
From the site:
VALUE
"I would next like to discuss the tremendous
value that we believe is embedded in True North
Energy's stock. Using year-end 2005 NYMEX
price of $61.11 per bbl of oil, True North Energy's
largest prospect, Harriet Point in the Cook Inlet of
Alaska, based on the preliminary technical evaluations
conducted recently, has a potential recoverable
oil resource between 170 million barrels and
700 million barrels. That would translates to an
enterprise value of between $5 and $20 billion. In
addition, we have additional 10,000 net acres of
leasehold in North Slope of Alaska which has not
been evaluated to date."
More chart ;)
Up over 15%
We might clear 3$ ;D ;D
Quote from: Terliso on August 10, 2006, 04:11:30 PM
Its showing up in my filter everyday too ;)
Look like ready to break the moving average resistance above (200sma & 200ema)
Intraday -- crossed the moving averages
Quote from: boatguy on August 11, 2006, 03:00:18 PM
We might clear 3$ ;D ;D
I believe that the party is just started...
TNEN is rockin' ;D
Up 28%
TNEN is going Parabolic, what would you look for as an entry now? ( i had a limit order in at 2.45 to buy if the Open Gap got filled... it never did 2.46 was the low and up she went!!) I foresee a open gap up on Monday... thoughts on buying into this gap in the 3.20 range or hope to see it fill?
On the daily chart did you see the spike to 3.23 towards the end of the day on large volume... Some larger player wanted in with out taking the time to accumulate gradually like has been happening all week... does this point to a peak to you or increased buying pressure.
I am doing more research and will post more if i find sig. I live in Alaska and there is a lot of Buz about Prudhoe partially or completely shutting down. TNEN has oil leases in Cook inlet which could provide the local Alaska refineries but so far i can not see that TNEN even produces anything yet. Perhaps this is the speculation that is driving the buying this week? Does anyone know if other small oil producers off of the major pipeline route are experiences similar rises?
Trying to figure a risk/reward on this play, at 2.45 Fous thought it may be a late entry, technically at 2.45... so where does that put us now ???
Seems like it was a new IPO late last year and the $4-7 range has been paid for it...
Just saw a full page add for TNEN.ob in the July issues of "Money" magazine. I do not read this rag often but do not remember seeing such glossy coverage for OTC stocks very often, definitely pumping going on.
Cheers Joe
Check this out-
http://www.investorabcs.com/esma/TNEN/2006_08_02.html
Looks like we got in before the pump ;D
TNEN 8k-
http://biz.yahoo.com/e/060810/tnen.ob8-k.html
Pump or not pump all technicals are in good mode... as everybody says "when the chart is talkin' it pays to listen" ;) :D ;D
Good luck to us!!
Howdie
Terliso, could you share your trading plan for TNEN? Are you in yet or entering tommorrow? Fous is in 1/2 position at 2.45, wonder where he will get to fill the other half. Thought on a gap up tommorrow...
USEY, STEC.... you have pointed out so many that i value your opinion as i learn to make plans
I like to hear that you feel that the party has just begun... but if the party gets crashed do you have a stop figure in mind.
Do you trust the technicals as much with a company that has so little history? Any significance to the 3:30 spike Friday afternoon to you??
Thanx in advance. Cheers Joe
I got in at 2.92 near EOD on Friday, felt a little bit of trepidation with the parabolic move, but volume seems to be talking right now, so I am listening for now ;) $4 does seem to be in range, and even those gaps Terliso pointed out...
Quote from: joet on August 13, 2006, 06:44:46 PM
Do you trust the technicals as much with a company that has so little history?
I'm a technical trader Joe, so I trust more the technical than the company ;)
Possible target would be below $5 & I will sell TNEN at strength not on the weakness...
LEVEL 2 ---> current price $3.43 UP
16.27%good luck!!
Up again today on new record volume, this stock is on fire! >:D
TNEN is Definitely on fire tokyopua ;)
Thursday Chart:
:) will see if the fire continues, I got in this AM at 3.02, was hoping for Fous' prediction for 2.70 but when the open gap filled and it went back to 3 i was not going to chance it... deffinately more selling than last week as it could hot hold all of its gains today.
good trading to ya
Cheers Joe
3 magic lines with good volume is a good combo ;) I don't think the $2.70 will ever hit ;D
Terliso, you sold today ?? Any Targets on this ?? ;D
Realdeal, i do not believe that Terliso sold today scroll up for target!! ;D
to the technicians: does the increasing size of the upper shadow signal a weakness to you, since the gains were not held there must have been more willing to sell... but with the huge increase of volume it could be mostly traders flipping it the same day?? ??? I hope that we do not see 2.70 now, but there could be a shake out..
Terliso is on one heck of a streak... RIG and AAGH just to name a couple of recent ones :D Thank you for your posts. Thoughts on HQSM? tommorrow could close above the 3 magics... wait for the close, see if todays gap gets filled is what i am thinking.
Cheers joe
Quote from: joet on August 15, 2006, 12:17:23 AM
Realdeal, i do not believe that Terliso sold today scroll up for target!! ;D
to the technicians: does the increasing size of the upper shadow signal a weakness to you, since the gains were not held there must have been more willing to sell... but with the huge increase of volume it could be mostly traders flipping it the same day?? ??? I hope that we do not see 2.70 now, but there could be a shake out..
Terliso is on one heck of a streak... RIG and AAGH just to name a couple of recent ones :D Thank you for your posts. Thoughts on HQSM? tommorrow could close above the 3 magics... wait for the close, see if todays gap gets filled is what i am thinking.
Cheers joe
How big are the upper shadows you are seeing? One thing I noticed is that on my Etrade charts they kept in some wierd data, so for example yesterday has an upper shadow going over $4, but the only sustained top should have been around 3.6, which seems to be reflected correctly in stockcharts.com.
today's news:
http://biz.yahoo.com/iw/060815/0154258.html
True North Energy Corporation Announces Completion of its Latest Private Placement Equity Financing Bringing the Total Raised to $2,000,000
Excellent chance to get in TODAY ! ;D :o
Quote from: joet on August 14, 2006, 09:10:49 PM
was hoping for Fous' prediction for 2.70
Filled my second 1/2 in the am at 2.70 midpoint candle support. Making a nice rebound so far >:D.
-fous
Stopped out at 3.10. :'( :'(
Watching
TNEN...
Volume ...Good
Price Action ...Good
G-pattern setting up ...Good.
What's not to like?:D
Quote from: kslifka on August 17, 2006, 10:20:12 PM
TNEN...
Volume ...Good
Price Action ...Good
G-pattern setting up ...Good.
What's not to like?:D
I think I like everything, ket :D ;D
The last candle on the daily chart printed a white spinning top candlestick which means indecision between the bulls & the bears...
....a quick check on the weekly chart, I think bulls is on our side ;)
Be careful on this one - it's a typical Frankfurt play. They pump it over here through paid promoters. Just a question of time this share implodes.
Art
Nice ;) :D ...almost hit 4 bucks & some traders are taking profits already ;)
Lookin great! i sold half at 3.92 near my $4 target.
-fous >:D
Coming back up ....$3.85 now ;)
we need that close above $3.60
3.95 wow!
Fous, congrats on ur profits ;)
Awesome close @ 3.95
I'll take my profits between $4.20 to $4.50, another rule -- never let BIG profits turn into small one ;)
wish me luck!!
Applaude for another great trade!
Jody
This stock is showing amazing strength.
Great Pick!! :)
Yup, great pick kslifka!! (applause)... are you still holding TNEN?
Quote from: Terliso on August 21, 2006, 04:58:47 PM
Fous, congrats on ur profits ;)
Awesome close @ 3.95
I'll take my profits between $4.20 to $4.50, another rule -- never let BIG profits turn into small one ;)
wish me luck!!
Thanks Al,
Another Spectacular day for TNEN! Up roughly 18% on heavy volume. Price rallied right up near my $4 price target in the morning to 3.98 and i sold half my position at 3.92 for a solid gain. I still think this can go higher but im lookin at a stop on close below 3.60 which is just below the 3.67 midpoint support of todays bullish white marubozu candle.
-fous
Sold half my of position @ 4.20 with 72% profit ;)
Quote from: Terliso on August 22, 2006, 10:46:31 AM
Sold half my of position @ 4.20 with 72% profit ;)
ohh well... sold the other half @ 4.02 with 64% profit
Quote from: Terliso on August 22, 2006, 11:14:55 AM
Quote from: Terliso on August 22, 2006, 10:46:31 AM
Sold half my of position @ 4.20 with 72% profit ;)
ohh well... sold the other half @ 4.02 with 64% profit
Applauds on the trade al,
lets go find another one of these :)
This stock still strong fous, the first gap is 0.63 cents away ;)
good luck on ur second position! ;)
First chart 08-13-06
Financials...
http://finance.yahoo.com/q/is?s=tnen.ob
First Gap was closed :D too bad I sold to early...
WOW!! :o :o ....TNEN.ob printed above $6.00
wow!! this one is screaming :o
Sold to soon!! Drat
Quote from: boatguy on September 05, 2006, 02:10:42 PM
Sold to soon!! Drat
Looks like most of us did, it was the prudent thing to do at the time though.
Went up fast, went down very fast ;D
Watching this one again ;)
Moving again after the fall, may be the bottom.
Cleared .4, now at .42 - on watch ;)
Breakout ;D
TNEN has room for a bigger move than todays 30%.
Many of us played this last year for very nice gains, the potential is there.
Up 20% with volume so far today ;D