Empyrean Energy

Af'noon all!

Along with many I have followed the facts and recognise that the predicted odds are against a successful seal in Glantal, that it would be a bonus if it were there and the more likely return (and reason for investing) is from Eagle in the US. I have therefore also been keeping a few pennies ready in case of a failed drill in Germany expecting a drop similar to those touted today.

Having said that ... I do not follow the argument that the rise yesterday was due to ramping here or elsewhere. The rise yesterday was very rapid and the "chatter" here did not crack off 'til well past 10. Sure enough we discover at the end of the day that there had been some sizeable 'T' trades both early and during the day. It is down to some conjecture on the nature of the trades but in my limited experience of small caps, a rise on the strength of BB ramping alone is quickly lost and this is not the case here. Furthermore if all those T trades yesterday were sells then we wouldn't have seen the rise in the first place. That leaves us with at least some sizable T purchases which can be an indication in exploration stocks of good news leaking out (ie riggers with internet accounts!) I still believe it more than likely that Glantal will fail but this week's movement has caused me to wonder and (IMHO) has pushed the risk/reward balance ever so slightly further towards a positive result. I have therefore slipped a few pennies out of the piggy bank for a further buy today.