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GDN - Golden State Resources

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MichaelD said:
Well, yes it was. Suddenly one day there were 6.6 million more shares in GDN which weren't there the day before which have now been sold at above $1 to other at the time seemingly irrationally exuberant shareholders.
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This is probably another discussion for another thread, but despite their irrational exhuberance, the people who bought these shares did so without knowing it was from the sale of directors options. Now they're shareholders of the company and both these shareholders of the company and many others (given such a high % of the companies shares have been turned over recently) and it remains to be seen, but they may fall foul of questionable disclosure practices.
 


"- Out of the 6.6 million options exercised, 4.4 millions were converted to ordinary shares."

So, why did the director only get 4.4 m shares instead of 6.6 m? Where have the other 2 million shares gone?
 
Tech/A

Looks like it's in that range you picked 65-80c fall as currently trading at 74c (down 16%) and free falling.... No 80c support.
 
At this rate if they do strike it big the share, at least might go back up to $1.25 for those people to break even!
 

Lament! Can't believe so many people is still being sucked into this "pump and dump" trick without knowing anything!

In the past 5 days, GDN price is clearly in a huge avalanche, but bloody hell still so many people are still keeping buying it hoping the next day all will change …

All buyers should be aware: what you are betting is against the managing director who has just dumped 5.03 million shares to you (!). What an uphill battle!
 
juddy said:
watching this for a trade tomorrow after the hammer close today.
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These ups and downs give me the willys.Seems that the price is at an acceptable risk level now going on todays rebound.Prolly the most valuable single sentence I have seen here is from Michael D.


Bottom line, though, is that it is not necessary to have a correct opinion of what GDN will do in the future in order to profitably trade it, merely to react correctly to what its price action does.
:2evil:
 
GDN Update just ANN and two days more drilling - they forget to update this line

Drilling Status Report – 8 November 2006
• Paradox Basin #1 well is at 14,107 feet (4,230 m) in Cane Creek
member of Paradox Formation
• The well will drill on towards Leadville Limestone primary target,
following bit change

Golden State Resources is pleased to announce progress on the Paradox Basin #1 well in Grand County, Utah.

Paradox Basin #1 is at 14,107 feet (4,230 m), in the Cane Creek member of the Pennsylvanian Paradox Formation (see table and graphic below). The Cane Creek Member comprises a cyclic sequence of salt, dolomite and shale.
The well maintains consistent elevated levels of background and connection gas.

As previously reported the Cane Creek Member is thicker than originally expected and has resulted in the projected top for the primary objective, the Leadville Limestone Formation, to be further extended below the last projected depth.

The depth of the top of the Leadville is now estimated at 14,500. It is anticipated that the well will reach the top of the Leadville, expected to be at least 500 feet thick, within 2 days.
 
As a technical trader I am only concerned with one thing - price.
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And here in lies the vast cannyon between fundie and tech traders ability to react quick enough to take advantage of these outlier moves.
Particularly exit.
 
purehell said:
not much fundamentals or general belief in the stock eh.
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Dont have to.
If you trade pure price action its not necessaty particularly short term.

However long term holders,fundamental and tech Analysts would have more interest in the Fundamentals of the stock.
 
my god, this looks painful, yet tasty at the same time. Looks like a chance for a swing trade coming but right now I'm waiting on the sidelines while the snow keeps rolling down the mountain.
 
must be pure hell for those buying at $1.20i guess if you bought the directors shares then, you cant expect him to give a hoot about your massive loss,, he is happy as a pig in mud to see the massive pump and dump..

doesnt the director work from the states???
 
Agentm said:
must be pure hell for those buying at $1.20i ???
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I imagine most if not all that bought at 1.20c would not still be holding at 73c and cut their losses by now....

Buy depth seems to have stagered weak support from 70-73c, but IMO couldn't expect that to hold if bad news comes out.

This stock has had 6 straight down days with nearly 50% retracement so one could ask where GDN's turning points is.

SevenFX
 
The trading in GDN and DYL lately has been fascinating to watch from a psychological point of view.

GDN has been hammered down for the last 5 days and is still getting a belting. And yet, it has made a couple of appearances on CommSec's Most Popular *BUYs* on the way down. Not bad for a company not even in the All Ordinaries index.

The obvious conclusion is;
1. It peaked at 1.265
2. Bargain at 1.15
3. Bargain! at 1.03
4. BARGAIN at 0.97
5. BARGAIN at 0.98
6. BARGAIN!!! at 0.87
7. MEGA BARGAIN at 0.78

Anyone wanna speculate on how many of the buyers at $1.20 plus are still holding? Anyone wanna speculate on how these buyers might be feeling right now?

Sadly, exactly the same scenario seems to be unfolding with DYL. People are buying it on the way down, all the way getting hammered.

WHY?


It's OK to arrive late for the party sometimes. Just have the nous to quickly excuse yourself and leave. There'll always be another party. (And don't pick your bottom on the way out.)
 
certainly looks like gdn is calling all passengers! how many no where it's going?
ann must be just around the cnr now
looks very tempting but im still sitting on the fence.
 
Michael.

(8) Are you crazy!! .71c

Dont worry people its only those who are spooked by the sell off!!
Hang in there It'll be back to square one soon.

DYL's/and USA are doing the same thing!! but hey what a bargain!
 
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