$3.37/mmbtu does not pay the bills for GSX. Before the hedges which raised the average price received for natural gas by $0.52/mcf; the price averaged $3.90/mcf during the 2Q 2010. The price of natural gas will have to increase by 15.7% to return to $3.90/mcf. Looks like someone just dumped their GSX shares as YAHOO shows that it just traded at $0.25/share which is a new 52 week low. News concerning the XOM horizontal well had best be forthcoming sooner than later or GSX will be trading at less than 20 cents per share when a major player dumps a few million shares. Just my thoughts.
limit orders are not alway filled, appprox 2:35pm showed a 209k order. filled and gone. blew through your limit. I do not have level II to take a closer look how the sell orders went in. If there was not a demand for the shares the sellers order would have been , 1st 1000 shares at 30c, second 1000 share at 29c......and would have taken some time to get rid of 209k shares, the last shares would have been the bulk of the shares at .25c and they would have lost their A$$. someone would grab up the bulk of the shares at .25c and the rebound of 32c would made a nice chunk of change. I think the order was placed and filled all at once, or your limit order would have been filled.. only a guess if you truly had a gtc order at .30c
major 210k share dump and rebound is seconds someone wants these shares, sooooooo hold on and we will see. Panic is not the answer. "A watched pot never boils" chill out!!! lol, I have a lot at stake here and will hold.
Agreed. Granted ngas prices in the rockies are horrid, but the Uintah acreage does have gas that can be profitable at higher prices. Eventually gas will probably get back to the $6 range. My worst case for GSX is a buyout of the company at 60 cents a share. Just my opinion.