Speculation in Small Oil/Gas Names is Out of Control

Speculation in small-cap, low float oil/gas stocks is officially out of control. In our momentum mover section we've been tracking the recent moves in the group for the past month or so. Some names include: Energy West Inc (Nasdaq: EWST), Isramco Inc (Nasdaq: ISRL), Horizon Offshore Inc (Nasdaq: HOFF), Streicher Mobile Fueling Inc (Nasdaq: FUEL), Blue Dolphin Energy Co (Nasdaq: BDCO), OMNI Energy Services Corp (Nasdaq: OMNI) and Able Energy Inc (Nasdaq: ABLE).

But today example, China Natural Resources Inc (Nasdaq: CHNR), truly is irrational exuberance at its finest. Today, traders bid the stock up 90.6%, to $7.49, per share. But the funny thing is --- according to the company's latest press release --- it has nothing to do with oil/gas. The company states that it is, "an integrated marketing company providing advertising and promotional services to clients."

Do these insane investors that have been buying the stock have someone insight on a major oil discovery at company? I highly doubt it.

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