GDN - Golden State Resources

[chris1983]

Below is just my thoughts guys..anyone want to read into it..I may be wrong because i'm no expert.

I feel they havnt made the announcements clear..a lot of people have become confused. I'm no oiler..but when you look at the comparisons they look good. They also said they had

"Gross sand over the log interval is approximately 860’ (247 m) with 69’ (21 m) of net gas saturated dolomitic sandstone with additional gas potential possible."

they also state

"Potential exists in other sands with gas shows in the well but, due to hole conditions, logs were not definitive."

They have only confirmed 69' from their 860 possible feet. That is very interesting. There will be more..then when you look at Lisbons field below.

The net pay of the Lisbon field is "Net Pay – 225 ft"

Now arent they very cheap if they have 69 feet of net gas..where Lisbon have 225 feet of net gas..and Lisbons field is 225 feet of net gas combined from 23 producing wells.

 

[MichaelD]

Today's psychology musings.

11. I HATE THIS STOCK!!! IT'S RUBBISH. SELL IT. SELL IT. SELL IT AT ANY PRICE. I HATE THE STOCK MARKET. IT'S RIGGED.


You'd have to make a case for today's trading looking like a blow off bottom/exhaustion gap with the mug punters who got in at the top/on the way down finally giving up in disgust.

Perhaps today's bottom pickers may have finally got it right.

 

[chris1983]

Jee Michael..do you even buy shares?

I try to find positive comparisons with my stocks..I think I highlighted one?

It has been oversold? Any other opinions?

 

[tech/a]

yes ...what would you have done this morning if you were holding ????

I can tell you now he wouldnt have been holding. Nor would many of us.

However Chris may have the last laugh in a few years but without production its just valued by speculation.
Trading species based on price only can be fun and profitable.
No report reading, no interpretation, no care for ramping, if its going up then Ride it if its shows weakness sell it--then LEAVE IT ALONE.

 

[stiger]

aww shucks you guys may become buddies.had plenty sold 87 and 1.14.watched with bemusement on the last few days antics still holding some and they will rise again .[special tks to tech for good advice]dyor cheers.Patience.

 

[giss]

Jumped in today at 54 cents. I think its taken a solid beating and will start upward again.

 

[MichaelD]

Jee Michael..do you even buy shares?

I certainly do. I trade a long term trend following portfolio and I trade a short term End Of Day system.

I have stated previously in this thread that I have traded GDN profitably through its recent price action by following my short term trading plan.

GDN is a fascinating study into the gulf between fundamental traders ("it's a good company with in all likelihood a producing well") and technical traders ("price goes up - buy. price goes down - sell").

The disconnect between reality and market price has been particularly strong and interesting with this stock. Hence, any announcement during the manic greed phase shot the price of the stock into the stratosphere as everyone bought the dream. The content of the announcement didn't matter, just so long as there was an announcement. Those that bought early rubbed their hands in glee and egged others onto the one way elevator.

Then, suddenly, in came doubt. Then fear. Out went the pros with huge wins to move onto the next pipe dream (DYL by the looks of it is where the money moved to). Fundies waited for announcements to make things OK again. They were much the same as the prior announcements and yet the price smashed down instead of up. The "it's a good company crowd" kept buying on the way down since it would surely reverse tomorrow...but it didn't.

Now there is despair amongst those that have lost a lot of money on this stock...and suddenly there seems to be strong buying support just as those that despair give up and sell in disgust...and once again the pros have unemotionally and systematically taken money from the amateurs.

Read this entire thread again with the benefit of hindsight - it's all laid out there - the greed, then the doubt, then the abject fear.

You know, if I had a pool of money allocated to "entertainment/gamble" trades, I'd be in GDN again tomorrow on the basis of today's price/volume action - it sure looks like an impressively oversold situation to me. Since I don't have such a pool nor a system based around such an entry signal, I'll simply content myself with waiting until if/when GDN signals a buy again to my system.

(That's assuming that I'll have funds available at the time the signal presents itself - uranium seems to be where the best party is at the moment...although that party is starting to look shaky, too).

 

[chris1983]

I can tell you now he wouldnt have been holding. Nor would many of us.

However Chris may have the last laugh in a few years but without production its just valued by speculation.
Trading species based on price only can be fun and profitable.
No report reading, no interpretation, no care for ramping, if its going up then Ride it if its shows weakness sell it--then LEAVE IT ALONE.

I'll stay more optimistic than that. Given me 6 months max.

 

[tech/a]

Pretty well spot on Michael.

 

[rosesny_1]

Good news for US forum posted today by rosesny

http://www1.investorvillage.com/smbd.asp?mb=969&mn=1041&pt=msg&mid=785825

http://www1.investorvillage.com/smbd.asp?mb=969&mn=1043&pt=msg&mid=786753

http://www1.investorvillage.com/smbd.asp?mb=969&mn=1047&pt=msg&mid=787441

These DPTR wells are very different from GDN well. They are 8000+ feet wells. The Paradox is a huge area. I am still in GDN. See my post from Utah geology above regarding leadville porosity.

 

[mahmoodf]

I think it's fair to say everyone has their trading style and as long as your style is successful and making you $$$, good on ya!

My style is more like Chris's where I hold a stock if I believe in it's fundamentals and only sell if the fundamentals of the company have changed.

For me personally, nothing with GDN has changed except a few peolpe hit panic buttons because they could not interpret the report correctly.

I hold GDN shares and will try and top up with some more this morning as these are now in bargain territory IMHO.

 

[tech/a]

Mahmood.

Are you averaging down? IE having bought at a higher price than now buying a "bargain".

Chris will you buy more?

hit panic buttons because they could not interpret the report correctly.

Wow Everyone who sold price down in a panic were so right when they bought it and now so wrong when they sell it!!

This appears to be an arguement to fit a belief.

I dont believe those who "trade" like yourself and Chris ( the majority on the fundamental forum) actually trade.

The only strategy I see is buy on pending news and hold pending more news.

 

[constable]

I think it's fair to say everyone has their trading style and as long as your style is successful and making you $$$, good on ya!

My style is more like Chris's where I hold a stock if I believe in it's fundamentals and only sell if the fundamentals of the company have changed.

For me personally, nothing with GDN has changed except a few peolpe hit panic buttons because they could not interpret the report correctly.

I hold GDN shares and will try and top up with some more this morning as these are now in bargain territory IMHO.

Im not sure mahmood how you can say nothing with gdn has changed when the last week or so they have lost 60 % of their share price . At what stage does this fact affect the weight of the fundamental analysis ?
Wouldnt it have been prudent to bail at say 30% down and then pick the share back at a cheaper price. If youd had a stop loss earlier on im sure youd be in a better position today to "to top up". Anyrate just curious on your thoughts i know its easier with hindsight .

 

[SevenFX]

Tech/A & MichaelD,

Just reading your gdn posts and you guys are so right on the money, with physchology and seeing right through Arguments.

Thanks for bringing clear propestive to thier disturbing arguments, and saving new members from fundermentalists/Investors & professional rampers suggesting holding durning AVALANCHES.

GDN is prob the worst avalanche I've seen since the begining of this year.

EDITED:
p.s I don't have a prob with fundermentalists holding, but I am concerned when (stolen from Tech/A) they hold and when the FOLD....as some could still be holding when their 500-600% profits turn to 5-10% profits or worse still LOSSES of initial capital.

I sonner incurr additional broker fees in selling when trend has changed, than huge profit sacrifices... just to hold.

Thanks
SevenFX

 

[chris1983]

Tek I know your referring to me as a holder. Tech and Michael did get it right..but I'm sure with many of my shares they wouldnt be holding them like me with the ups and downs that have been faced.

BMN went to 1.25..before the share split..got smashed down back into the 70's. I held. The profits I am sitting on now are very healthy. I got a 3 for 1 share split..now the shares are 1.40+ again. Tech and Michael looking at the way they trade wouldnt have held. I have been in many shares that have rebounded much harder to their falls. SMO i got in at 12.5..got smashed into the low 7's..look at them now..I highly doubt Tech and Michael would of held during that stage. One share that I stuffed up on when it got belted was FXR. It got smashed when everyone was bailing and I got out at 66...I had a panic and sold. It is now 1.80+

So hey I'm glad you got out. I'm still in and still believe once the well is proven commercial it will come good.

 

[constable]

took the overnight money and ran myself but gee look at it go now!

 

[Snakey]

And took off 90000 at average 61.5 thank you
left 11000 on for leadville

 

[constable]

And took off 90000 at average 61.5 thank you
left 11000 on for leadville

wow super effort that big weekend coming right up!

 

[Snakey]

wow super effort that big weekend coming right up!

Yes constable and that weekend starts right now
last trade on these was 93300 on at 38.5 of at 1.15
thank you very much golden state now its time to move on....

 

[toc_bat]

last trade on these was 93300 on at 38.5 of at 1.15
....

snakey im baffled by this ... what do you mean?

thx