If Greece votes out of the Euro then the dollar goes up ,Oil goes down and in spite of only 20% exposure MHR goes down. If Greece votes austerity, the dollar goes down, oil goes up and MHR goes up. Having stated the probables note that the small cap stocks are subject to much manipulation so nothing is definite. The only definite I see is that when the balance sheet gets officially less burdened this is a good thing. Therefore MHR should be back past $2 in the near term (IMHO).
Short term this stock could go up or down 15% easily. I like the long term possibilities if the liquidity situation is greatly improved. Then MHR can tread water waiting for higher NG prices. It is still risky however if NG prices stay under $3 for the next 2 years. My guess is that NG will improve materially over that time, however I will concede that many, including myself have been burned waiting for this increase to happen. The LNG exports should help materially as they ramp up but we will see. Good luck to all especially the longs..
If your information is reliable MHR should hit $2+ next week. Don't see how you could know this, but there's a lot out there I don't know...
No long or short but just wondering why buy any shares here?
Ok bulls or bears any reason to re-enter here. I made good money from $5 to $5.80. Gave most of it back selling at a loss of $1.70 after making a re-entry. Now considering a rubber match with another re-entry. Lost track of recent developments.
One more comment. The odds of a deal being officially announced over this weekend appear to be too high to let this stock be down 8% today which is where it is as of this posting. We will see.
Truth is we really don't know what is going to happen. The odds appear to be good that when the creditors demands are met the stock should go up by July 8. Of course they may purposely default to cause a panic in the stock price so that certain insiders may buy assets on a fire sale. The market is very crooked and there are no definites. At the end of the day there appears to be too many assets for a bankruptcy to happen and that the assets sales will sure up the company's balance sheet and give it money to drill. There are good odds here but in these small cap stocks there is always a gambling element.
There is no reason to declare bankruptcy. Maybe in a couple of years, but not any time soon (IMHO). That is not an endorsement of going long here, just a correction of a misstatement.
The CFO leaves. Tomorrow will probably be more pain and suffering. Eventually there should be a good buy in point but when I don't know.
This is true, supply is the problem and production is growing. We probably won't see a dramatic spike in demand from exports this year as these things take time to get rolling. However that is why the stock is so low.
Do you have the patience to wait and possibly see this stock below $10 in the interim? Not sure if I can. I do have my loss limits. We shall see. I thought I did bad by selling out XCO at $1.70 for a loss but it turned out saving money. Sometimes you need some luck in getting a good entry point.
Wow. Today's sell-off is a reminder that anything is possible in the market. UPL could be below $10 this summer. One never does know the bottom but I believe there is one for this stock and we should not be too far from it, we hope...
This is a manipulated stock in a manipulated industry. The bottom line should be however that the asset sale resulting in almost no remaining debt is a very very positive development. This is not a great stock for traders but appears to be a good investment.
I bought in the day before the 25.62% gain so am am your audience. Your logic rings true. There may be some retreat, however I can afford to loss some short term gain if it happens as the longer term picture here is that this stock is still way oversold at $1.76. I may even buy more if we drop enough. I decided to not trade this stock at these levels. Good thing I did or I would never have seen the full 26.62% gain.
Banks foreclose only if they have to and most of the obligation has already been raised with more deals in the short term pipeline. It would appear irrational to foreclose now, however anything is possible in this market.
It is impossible. The best strategy, assuming you believe there will be a bottom, is to buy on the way down. My underlying assumption is that UPL and NG in general will recuperate. It should. NG use is going up not down and the details should work out in time. I took a medium position in UPL today. UPL can go down but I now have enough so that if the recovery in NG stock prices started today I would be ok with it.
Near term high productivity could more than offset the lower rig count. A cool summer could also do a lot of damage to the stock price. One needs a strong stomach and a focused approach in investing here.