RE:Under $1.00In the Fall of 2013, PMT showed some signs of a turnaround, I traded it up and down, not every trade is profitable, when the trend reverses itself, that's the trade to get out fast with a small loss.
when PMT went under a $1.00 couple months back, I moved in with my van, trailer, and wheel-barrel, it was tough to get shares, besides the low volume, somebody always come along and bid a penny or two higher, after two months, I got half of what I am looking for, then it spiked up, in thinking of PMT might retest its new low, so I started taking profit between $1.16 and $1.25, I still have some shares left, I guess I am long, but not very strong. LOL
If the rig counts are dropping at current rate for two more months, they should reach balance production soon, one stat to keep an eye on is the unconventional drilling rig counts of the Marcellus and Uticas, because that's where most of the surplus came from, every rig in the Marcellus can produce over 8mmcf/d the rig count in the Marcellus is 69 this week, 71 last week, 80 last year at this time, since the pendulum will over swing both ways, the big boys on Wall St. might want to creat a phoney shortage on inventory, if the stock market is ahead of businees by six months, PMT might meander side ways for a while, for me to look for PMT to to retest its low might be wishful thinking, shorting PMT? be my guest, LOL, CHEERS glta.