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GMX Resources Inc. Message Board

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  • ubahedge ubahedge Feb 6, 2012 12:37 PM Flag

    Any compelling reasons GMXR Preferreds don't hit $25 ?

    $25 might be a stretch in the near/medium term given the risks, but I think we might see $20 as soon as they announce the next pref dividend.

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    • From late 09 to mid 11, the preferred chart was almost a straight line betweein the 24 - 25 value. That was when gas was king and GMXR was pumping profits. This has been/will be a tough transitional road. The fact we have gone up 150% in 3 days is amazing. Lots of profit taking for a while and digesting of upcoming news on new wells/cleaning of existing will keep price churning. I couldn't pull the trigger at 16 with the 2000 I bought last week.... I think we are ok for a while in the 14-15 range.