GDN - Golden State Resources

[constable]

yeah not good. Im wondering if I should cut my losses and put it into something I think will double.

People are very dissapointed with the wireline logging. Its not definitive..then they caused delays because of it. What to do.

finding something that will double is probably a harder decision, besides gdn is looking like it has less and less downside each day and probably worth a gamble at this price
pls note i am a chronic gambler!

 

[SevenFX]

Whats your thoughts and experience TECH/A....

have you seen this 7 day retrace before, with the 7th being the worst (-33%)

Don't know if this falls within any classic patterns....perhaps just emotional runnaway...???

EDIT: Has anyone bought, and wondering where this is going...???? I certainly am...????

 

[purehell]

These constant ann have done nothing positive for this stock at all besides maybe the opp for people to buy in who would buy in? um you would have to be pretty crazy with all the directors selling etc.

Looking like people are jumping from the top roof with the pianos.

 

[nizar]

Dont forget how much this stock has already run.
Alot of daytraders, any sign of weakness, and its a domino effect, stop losses get triggered, and every1 is racing for the exits.
I feel for those who were left holding these when the music stopped.
Highlights the importance of risk/money management.

 

[Rogue_Trader]

Whats your thoughts and experience TECH/A....

have you seen this 7 day retrace before, with the 7th being the worst (-33%)

Don't know if this falls within any classic patterns....perhaps just emotional runnaway...???

EDIT: Has anyone bought, and wondering where this is going...???? I certainly am...????

Well I bought some today, have no idea where it is going, dont ask me what would i know

I will be in it for the long haul though, am going to hold, just my opinion, I feel GDN still has potential, but then I am not alway right

 

[nizar]

Rogue Trade
Your brave, your brave. It takes balls to be buying on a day like today.

 

[chris1983]

Well...ive been pretty much spot on the entire year. This is my worst trade at current prices. I havnt sold yet. I remain optimistic they will rally. Then I wont lose as much

Na on a serious note..I really dont know how to analyse their results..it looks to me all the delays etc and the logs not being fully definitive have taken its toll on the market. Then when you add the director sells which many people have been focussed on... It churns a negative sentiment.

I'm still hoping on the well being commercial.

 

[Snakey]

Rogue Trade
Your brave, your brave. It takes balls to be buying on a day like today.

No it takes brains...

 

[constable]

Well I bought some today, have no idea where it is going, dont ask me what would i know

I will be in it for the long haul though, am going to hold, just my opinion, I feel GDN still has potential, but then I am not alway right

same, i think people amongst all this panic selling and lack of immediate "great" news, have forgotten the reasons why this share may have potential, especially now its has plenty of room to move up again!
I jumped in a little quick but my average is under 50 but like yourself willing to hold and wait for drilling programme to reach its target!

 

[Rogue_Trader]

Rogue Trade
Your brave, your brave. It takes balls to be buying on a day like today.

Well in my opinion, and like I said what do I know they are at such low, I couldnt help myself I love a bargain, but then again I have been known to be an impulse buyer! so just thought I would see how it all pans out.

I am thinking, just what if this well turns out be commercial....? And if not u win some and lose some. That is the risk i am prepared to take, my kids will just have to go to a dodgy public school that is all lol.

 

[Rogue_Trader]

same, i think people amongst all this panic selling and lack of immediate "great" news, have forgotten the reasons why this share may have potential, especially now its has plenty of room to move up again!
I jumped in a little quick but my average is under 50 but like yourself willing to hold and wait for drilling programme to reach its target!

Yes my sentiments exactly.

 

[doctorj]

Na on a serious note..I really dont know how to analyse their results.

I've felt this has been the problem all along. They've released information that Joe trader has not been able to analyse. The 'big' numbers and emotive phrases like "40 fold increase" etc has triggered this run.

5-10% porosity in the upper formations is at the low end of the scale and while many wells do produce commercially at these levels it will mean they will need to do many more drills to produce at a rate that provides the cash flow they might have hoped for. This ofcourse means more capex and a raising and the associated dillution.

The upper shows may be a handy little earner if they decide they can't produce from the lower target and feel it is commercial. It wouldn't be much to write home about and certainly, in retrospect, wasn't enough to warrant the type of hype that was generated.

Ofcourse, if their dubious disclosure practices continue when they reach the lower target we may be in for a DCB. I can see it now - "80 fold increase in background gas!" - it might give the directors a chance to lighten their load a little more and mug punters to recover losses. As for whether or not they will find anything exciting, only time will tell.

 

[tech/a]

Hold fine.

But those who bought at average below 50c have just watched a 120% profit come and go.

Now if thats good trading practice------

100% rises in a few days arent common.

Turning a 100% profit into a break even OR loss are very common.

There are times to Hold'em and times to Fold'em

So how many here averaging down?

 

[Broadside]

Hold fine.

But those who bought at average below 50c have just watched a 120% profit come and go.

Now if thats good trading practice------

100% rises in a few days arent common.

Turning a 100% profit into a break even OR loss are very common.

There are times to Hold'em and times to Fold'em

So how many here averaging down?

bought at 30, sold half b/w 88 and 97, let the rest free carry for a free hit at Leadville (sorry Hosston on my mind ), in hindsight I would have sold the lot at 1.20 but I wanted the chance at a very big payout...anyway Leadville is still a long shot and still a chance

I won't buy more, no way

 

[Caliente]

hi tech/a, I'm interested in taking a position in GDN now, but am novice to this particular situation.

I know its unwise to buy into a falling stock, but are there any technical indicators that make you consider a turn around is approaching?

 

[tech/a]

bought at 30, sold half b/w 88 and 97, let the rest free carry for a free hit at Leadville (sorry Hosston on my mind ), in hindsight I would have sold the lot at 1.20 but I wanted the chance at a very big payout...anyway Leadville is still a long shot and still a chance

I won't buy more, no way

Nothing wrong with this appraoch.

At least you had a sound plan and although it didnt pan out perfectly you placed yourself in a position to take advantage of it if it did and when it didnt came away with a good profit.

You have traded it!

Cal
Ill have a look.

 

[Snakey]

Bought in at 38.5 sold at 1.16 bought in again at .50
bring on leadville!!!!!

 

[tech/a]

Technically.

If you bought today then the stop is at 42c and the gap is likely to close in the next 2 days. I would expect trading to re bound to around 75c
So do the risk maths from there.---then flat unless news.

 

[maverick11]

I've felt this has been the problem all along. They've released information that Joe trader has not been able to analyse. The 'big' numbers and emotive phrases like "40 fold increase" etc has triggered this run.

5-10% porosity in the upper formations is at the low end of the scale and while many wells do produce commercially at these levels it will mean they will need to do many more drills to produce at a rate that provides the cash flow they might have hoped for. This ofcourse means more capex and a raising and the associated dillution.

The upper shows may be a handy little earner if they decide they can't produce from the lower target and feel it is commercial. It wouldn't be much to write home about and certainly, in retrospect, wasn't enough to warrant the type of hype that was generated.

Ofcourse, if their dubious disclosure practices continue when they reach the lower target we may be in for a DCB. I can see it now - "80 fold increase in background gas!" - it might give the directors a chance to lighten their load a little more and mug punters to recover losses. As for whether or not they will find anything exciting, only time will tell.

5-10% porosity is actually quite good. Typically porosity is closer to 3-4%

 

[Caliente]

cheers T/A, it's rebounding strongly, I might have lost the value here due to my indecision.

Was considering the buy in at 43, now at 51, thats essentially a 20% rebound already, so I'll hold off this one for the moment, but its on radar.

PS - nice work Snakey, wish I had your trigger finger!