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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
After Rose Petroleum’s (ROSE) recent dodgy placement (which, yes, I do believe the charts strongly suggest was forward sold by some), I wanted to take a closer look at the company. At the weekend, my colleague Chris Oil drew a furious response on Twitter after he wrote this piece, suggesting Rose was a short. Thankfully not all of the comments were moronic abuse, and reader Scott Winter submitted this riposte to Chris, in defence of the company’s prospects. Now valued at £30.7million, with a share price of 2.35p (last seen), I have to admit I lean more towards Chris’ assessment of the company, but accept that Scott could be proven right first. The passionate following behind Rose certainly looks an indicator of further share price gains to come and 4p is as good a target as any. However, it would a mistake to view such a move as being driven by anything other than sentiment and certainly not sound fundamentals.
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