I'm Back In

I've just spent $4,500 on 15,000 shres of ERHE - just couldn't resist at this price!

I notice there is at least one strong buyer, too, who looks to have gone for about 170,000 shares. Trading is modest, as usual in June, and the price is off $0.02 at $0.30.

I may have to hold it a while to make money, and through some further drops if an injunction hits, but it's going to be hard to separate this stock from big cash when drilling starts late next year.

It's probably a better time to buy than most we will see - as I've said before, while I expect a climactic drop if an injunction comes down, I believe that drop will be short-lived - possibly only a matter of hours.

It would probably take the stock close to $0.22, from which it would probably rebound to $0.28 before the end of the trading day it becomes effective (i.e., if the injunctrion is announced after 4p.m., the drop would occur in after-hours and early trading the following day, and the opening would be at a very low price from which it would likely recover all but two cents or so before the day is out).

I would certainly buy on that opportunity if I have cash available that day, and I would probably try to go for 50,000 at a minimum and perhaps far more (if my wife lets me!) After all, $0.06 on the rebound with 50,000 shares is $1,500 for a day's work.