I've been reading the posts here with a sense of amusement. It seems there is a contingent of long term investors who are absolutely certain that PGH will "someday" be a winner. On the other hand, the short term traders have valid points also ... oil prices are falling, the major stock indexes are falling, etc.etc. PGH just opened today and while I type, it fell to $5.36. Some have said it will not drop below $5.50, while other have said that it will go to $5.20. Very confusing to say the least.
I guess the best approach is to decide whether you are an investor or trader and develop your own plan!
In my (not always humble opinion), your subject line is the right question to consider when attempting to assess this and every other public message board, or man made instrument used for trading.
Your post suggests amusement, then confesses confusion over prices? That sounds like more than amused detachment? So what are you, Investor or Trader?
Not only are there rubs between long term and sort term holders, those who follow fundamentals the other focused on technical data developed of charts, trends, and graphs. (and both) There are a lot of other rubs! Conflicts between left and right. Rubs about public spending, and interest rates. Is Gold money, or an asset? Rubs about health care, taxes, environment, and fracking.. The nature of a strong social (thus investing) fabric is that it allows for stretch and contraction thus ability to hold together .. Wealth is not found in the antics of the trading few, but the strength of those who remain with the fundamentals defined by supply and demand. Find a need and fill it!
Like others, I currently observe the markets selling everything connected with fixed income and or yield. This interests me about your question. Investors are no longer looking toward future as much as they are to the FED, and that in turn gives a lot more power to the trader types..
It's not just the price of oil! PGH is not the same company it was 18 months ago! There are now 500 Million (+/-) share outstanding, which makes use of charts and statistics pre merger with NAL or convert from Royalty Trust very difficult (if relevant).. The news good; 250M needed to pay the div being earned and price stabilizing. Lind looks ++!
New directions have been stated. The nature of the game thus rub is what it is..
With news positive, via data that cannot be lied about without facing prison time. Choose your own length of time. Out of space. Good luck.
Hi Fire, thanks for your comments.. However, I am NOT confused about prices, which are trending down. I was commenting on what others have said, "SOME have said it will not drop below $5.50, while OTHERS have said that it will go to $5.20. (Comments by other posters) are very confusing to say the least." You may have to slow down when you read to get the intended meaning.
I have many years of just kicking back watching my money grow. I gain a check every month and dollar cost avg. out on the drops. Not a real brainstorm of a tactic. Can't get that div on most stocks nor in a bank. If it drops I just buy more and trudge on. But the if linburgh delivers, and it has started to deliver, is the question. Energy will always be needed. PGH is not a one trick pony. It has nat gas as well. The surplus of Nat gas will spawn inovation, and change. It already has. Several power plants are already going nat gas. The US gov debt ceiling is on the table again and this company is Canadian. Looming US gov shut down.
Some time ago, we had a golden cross where the 50Ma crossed the 200MA. My experience has been that when this happens the price often moves back to the 50MA, which is where we are now ($5.35). However, PGH seems to have moved WITH the price of oil, first jumping in mid July and now falling back. BTW, oil has formed a triple top, and it looks like we'll have further weakness in oil prices, mainly because of the current oversupply in oil inventories, ie. "glut".
What does the board say?