I think the increase in volume traded and slow build of the SP over the last few weeks and particularly the end of last week paints a picture of something more than just a spike in the price when results (and probably quarterly report) come out.
In my view, there has also been some work done behind the scenes, particularly last week, to try and keep the SP in check and under the $0.54 mark to hide from the spotlight. Although I see how this could result in a spike on good news, my gut feel is that if this is the case, and someone has been capping the price, the news should be good enough to maintain a higher SP.
I also think that although the general view on this thread (along with most company threads dominated by holders) is positive, there is quite a range in the target prices. This could be viewed as people being greedy or not knowing the true value of possible news (who does at this stage though) but I also think it reflects the differences in timeframes people are looking to hold. Some will be looking to sell in the inital spike that always comes with a favourable announcement, where others are in for the long haul and see these results as the first rung on the SP ladder.
In summary, i'm a little bored at work this arvo and felt like a waffle... but in all seriousness, I think GTE is a strong company both in the short term and the long term. The forthcomming drilling results are the first steps in a number of positive moves forward. In my view, even if news is not as good as expected, or does result in a spike that isn't sustained, I think GTE is heading in the right direction.
All IMHO and please DYOR (sorry again for the waffle)
GTE Price at posting:
47.3¢ Sentiment: LT Buy Disclosure: Held
