I was bullish on NCEY until last week, when the run up from ~.15 to .74 came to a screeching halt due to defaults on loans with Laurus. The pps came crashing back down to trade between low .20's and low .30's over the past week, now it looks like it will trade in the teens again until renegotiated financing is announced, bankruptcy, or something unforseen. If re-financing is announced, I believe NCEY could head back to .50-.70 in the near term as people get back on board....the company does have a good reserve base, knows how to successfully drill, and is active in acquiring paying projects. I'm watching daily for news that will get me back on board, I was in at .18 before the run-up, caught some swing trades, and got out at .23 after the crash with a slight profit.
$0.23 (07/16/08)
