RE:RE:PEY's SP rising inspite of lower O&G prices.Understood Houba and I did not say that you said $12.50 was the bottom.
I asked if $12.41 was the bottom for this trading cycle and I guess I used "trading cycle" for lack of a better term. What I meant by trading cycle is the period between significant highs and lows that can be traded for profit. PEY seems to have one or two of these periods between ERs or quarters.
Right now we are between the levels of buy and sell, $15 and $10 that I assume you put out there as actual highs and lows...ish.
I still find it interesting that the share price bounced at $12.41 and the intermediate support level you indicated was $12.40. Uncanny. One could say predictive. Whatever.
It remains to be seen if the share price moves higher from this point moving forward or continues downward from here but certainly a buy at this level would lock in a 10.5% plus yield which not too shabby.
The dice roll I guess is whether the lower nat gas pricing and general incentive by the market to take profits or tax losses based on where they bought lowers the share price further.
Fundamentals versus technicals or even using both combined I honestly don't know.
Hence the question: Was that the bottom?
GLTA
houbahop wrote: I didn't call $12.50 the bottom, Quint.
I see $12.50 as a support level. It could go through on the down side if
Natgas resumes its downward course or any other negative event.
For the time being, participants feel ok to buy at this level if everything else remains
stable.