why the panic?Look I can understand how everyone is upset about the drop in the pric, but it seems to me that there are 2 campls here. One is the traders and they seem to have been right short term, the others are the long term investors who are obviously in this for the long term and never sold at even $5 because they see a different value in the company. It does not mean that because the traders are right the longs are wrong.
What are the reasons for the decline?
1) Threat of a moratorium
2) New regulations coming
3) Depressed NG prices
Talisman made it pretty clear that there were 2 major reasons for not proceeding with the drilling. The price and the moratorium/lack of regulations. Now we already know that here is no moratorium, the regulation will come shortly. The most important factor of all NG prices are starting to move. UNG the largest of all the NG funds is now above the 50 ma, and if it holds this we are going to see considerably higher NG prices.
I can understand the whole tax loss selling, but what are you saving by selling? 18% on your loss if you are at the high end of the tax scale? Is it so far fetched to the shorts that this closes near $2 by year end? if so then there is more benifit than the tax loss.
Either way I am long and the constant were going to $1 or this is going to be bought out for $10 means very little to the long term investor. This is going to be a longer term play and we will make the money it will just take time.
GLTA