large shale gas discovery

Redfork has had 3 volume spikes in the last 6 months with the two larger events having a silent effect on SP. This is one of my set ups that I look for but often not temporally sensitive for trading. Short term an increase in SP with volume will reverse the trend but slightly favouring a low volume pullback, hope not. Ideally 5 - 10 million traded with some SP appreciation will be A+ for the stock IMHO. Gas prices are low but energy prices seem to be stabilizing somewhat. The recent news virtually ensures RFE as a player whether independent or not is another question. I broke one of my trading rules by not taking profit on the SP run up so have set a stop loss and waiting for market assessment. My back of the envelope discounted fundy view is around 150 180 but there is a plethora of companies that appear to be below value.

Regards RM