AENP.OB

[saffeysite1]

Oil tops $60 on shortage fears - morning news.  This plus Amep.'s latest news = winner.

[mulder]

is it still OK to buy AMEP.OB or am i too late?

[Thunderbunny]

is it still OK to buy AMEP.OB or am i too late?

I sure hope it's not too late - I bought at $0.019 like David!

[madge20]

patience..  Buy/hold and look at it again in September

[David Randolph]

AMEP.OB had no new technical information on the last session. We need a close above $0.017 for the chart to get short term bullish.

With the selling the stock had on Wednesday in the face of so many bullish news (but it hold with an 8% gain) it was strange to see it didn't go down yesterday. Let me rephrase that: it was a bullish thing AMEP.OB held flat yesterday when oil was down so much.

With a close above $0.017 we'll be set to fly. When we fly it will be 50% or more in a day. I think this won't take much longer to happen.

[TRUNK]

Someone please confirm this, but hasn't Amep redesigned their website very recently for the better?

One would assume a company such as this only has a website for the purpose of attracting investors.. Since they have done some window dressing and remodeling of the website lately that might be tipping off the hand of a anticipatory coordinated campaign to push the stock price.. maybe I'm reading too much into it..

http://www.americanenergyproduction.com/

[cumulina]

I'm with you, TRUNK  Still holding.

Cheers.

[saffeysite1]

 From a fundamental standpoint, AMEP is making an announcement any day on the Nash 1-c well, which is completed. It is expected to be a nice producer with 'substantial' flow, ...and the daily rate is expected to be released soon. Another well being worked is in the final stages of completion, it is drilled at an angle in the Barnett (not horizontal), and could pssible be the biggest producer yet for AMEP.
Charles Bitters, President of American Energy Production Inc. stated, "After several days of delays obtaining a down-hole assembly's for the uni-draulics jet pump, Bend Arch Petroleum Inc. began successfully producing the Barnett Shale well on Monday. Management believes it will take a week to ten days for the well to stabilize and have consistent oil and natural gas production rates. However, initial indications point to positive results. After only four hours the well was producing substantial amounts of natural gas. We will post results once the well has had a chance to stabilize therefore giving a clearer picture as to the future of the Nash 1-C well."
The installation of the uni-draulics jet pump on the Nash 1-C well instead of a conventional pumping unit will move more oil and produced water from the wells bore faster and more efficiently than the conventional pumping unit.

AMEP is in the current process of making the 'Golden Cross'. BTW, the last time AMEP made the Golden Cross ot went from .02 to .14, before there was any production. AMEP gross revenues were about a half million last Q, next Q expected to increase again.

I have been adding more on dips of this stock.  I will keep holding, it's a no brainer.

[Tirebldr]

Just how unprofitable a venture would it be for me to consider removing a couple grand from my Scottrade IRA and opening a non-ira acc't w/it? This would be for the purpose of getting into penny stocks.  Seeing I now have the advantage of this board I thought it just might work. What do some of you who have been around for awhile think of this?  TIA!

[strp609]

Art,
The short version - only commit what you wouldn't mind losing and feel comfortable "playing" with   

The slightly longer version - we should all have a specific lifelong gameplan for our financial well being - properly managing our debts, assets, income and responsibilities (family, etc) to work toward our life goals - bass boat, retirement, travel, college funds for the kids, vacation homes, lap dances, whatever.....the more we can eliminate debt and increase assets, the closer we are to our financial goals, but age is a factor - a 20 year old has more earning years to replace financial losses than a 50 year old, and more time to take advantage of compounding.....and the sooner we can achieve financial freedom, the more time we will have to enjoy it......freeing ira money for pennies, aside from any disbursement tax/penalty implications, should only be considered in light of your global financial situation, age, income, financial goals and comfort level....remember the gambler's saying of "don't bet what you can't afford to lose"....

As for actually playing the pennies, develop a sound trading plan (plan the trade), try paper trading if you haven't done pennies yet, realize some of the pitfalls like wild price fluctuations, really fast price movement, liquidity and trouble getting orders filled, then stick to your trading plan (trade the plan) - you'll stay in the game longer and have a better chance of making your accountant sweat over all those capital gains..   

Pennies can be a blast, but make sure your financial situation is strong and this won't affect it....best wishes on being profitable. 

Al.

[David Randolph]

Nice comments on AMEP.OB and general strategies, thank you !

AMEP.OB must close above $0.017 to be short term bullish again. It is possible for the stock to come down to the ascending trendline around $0.011 and one must be prepared for that scenario: that's why I have only 3.33% in this micro cap oil related stock. The upside is enormous but it is a risky play. I'm waiting for an oil rush, a speculative bubble in this sector in the coming months. It will be a tide that lifts all ships - the light ships will rise the most.

[saffeysite1]

Looks like we made the cut.

[TRUNK]

Looks like we made the cut.

Not much volume on our climb over .017, but hey I won't complain- any old white candle makes me happy

[David Randolph]

AMEP.OB closed above $0.017 

This happened on a day the oil price was down a bit. Accumulation phase seems to be ending. The stock is now ready to charge higher again, I believe.

[David Randolph]

After yesterday white candle with stronger volume AMEP.OB is officially in a short term bullish mode. We'll probably see a new strike to the descending blue trendline which today stands around $0.025.