I sold out today because I believe that the SP will go down further now that the excitement over Alkali+Pinkerton+Leadville is gone. Remember, these were major gas intervals in PB1.
This well will probably be commercial in the future.. but.. how long will it be before it starts producing? 6 months? 1 year? Simply put, not many people are willing to let their money wait for 6months or more for the gas to start flowing.
The smart money pulled out today (or over the last few days) ...
Don't get me wrong.. i was bullish on GDN prior to today's announcment .... I am disappointed to state the obvious ... was disappointed to see my 300% paper profit (at 0.20) came down to 80% profit (0.09 got out) today....
Although I do hope that SP will go up for the holders tomorrow ... I believe it will drift down further (unless they pull something magic out of the hat) ... imo.. this may test the mid-6 level tmr ...
GDN Price at posting:
8.0¢ Sentiment: Sell Disclosure: Not Held
