Market Watch for week of 6/15/2009

[GoHerdGreg]

Bill, et al--
It's been fun watching all this from the beach the last few days. I'm back home now, the private jet (aka Allegiant Air) got us home in 48 minutes today.
I am punching out a few thousand shares of SIRI and putting that money towards more MGLG and probably BEHL or BCLE shares.
I have had it with SIRI's psychotic ways (both the stock and management). This will lessen my investment and I can put it elsewhere to good use. The shares I sell will still return about 25%...but it took 4 months to do it. Blah.
I'm putting in the order for after hours right now...we'll see if it takes.

[billhart22]

Bill, et al--
It's been fun watching all this from the beach the last few days. I'm back home now, the private jet (aka Allegiant Air) got us home in 48 minutes today.
I am punching out a few thousand shares of SIRI and putting that money towards more MGLG and probably BEHL or BCLE shares.
I have had it with SIRI's psychotic ways (both the stock and management). This will lessen my investment and I can put it elsewhere to good use. The shares I sell will still return about 25%...but it took 4 months to do it. Blah.
I'm putting in the order for after hours right now...we'll see if it takes.

Welcome back, Greg!

I am glad that you had a great time. MGLG sure stands up to the task at hand. That PR today is really good news. I think MGLG will go up tomorrow off of the news today once the word gets around tonight.

Then when the production numbers come out, plus the new wells information, this thing is going to go completely bonkers.

I'll tell you....How could SIRI make such a drastic mistake? Do you think they did this on purpose? I have real strange inner-thoughts about that. They never say a word. They just discourage people.

It is all a weird game they are playing. Either that or they are just plain damn stupid.

BCLE is looking good at the moment!

[Sean]

my account finally got funded
its in canadian dollars tho, to buy american stocks (bcle/ssccq/mglg=american?) do i need to convert to USD $?

Also man it sux cuz i work from 7:00am-3:00pm EST (Ontario)
is the stock market EST time 9:30am-4pm? it seems like its time is off from mine when i look at charts.

mannn i wanted to buy mglg when u said so but then i found out u need to sign up for an account (lol tht was my 1st day even looking at stocks)

umm wht do i do about having to work :S can i buy stocks during off hours like now?

[Sean]

oh yea,

i just looked at my trading platform

it says

Security: (pretty sure stock symbol)
Transaction(buy/sell)
Quantity: you type in the number of shares right? so if stock was .02 and i wanted to buy lets say 400$ i would type in 20,000?

Order Type: Market, Limit, Stop, Stop Limit, (do i pick market)
Limit Price:Blank unless i select Limit
Stop Price:Blank unless i select stop/stop limit

Preferred ECN?? - Auto / lotsa weird things

AON [] -- check box?

[bassmaster]

oh yea,

i just looked at my trading platform

it says

Security: (pretty sure stock symbol)
Transaction(buy/sell)
Quantity: you type in the number of shares right? so if stock was .02 and i wanted to buy lets say 400$ i would type in 20,000?

Order Type: Market, Limit, Stop, Stop Limit, (do i pick market)
Limit Price:Blank unless i select Limit
Stop Price:Blank unless i select stop/stop limit

Preferred ECN?? - Auto / lotsa weird things

AON [] -- check box?

this is how i do it.... if i want to spend $1k on a stock. my cost for the trade is 9.99... SO i deduct that from the 1k leaving me 990.11 ...THEN i divide 990.11 by the share price. giving me X amount of shares. use a limit price of what you want to pay, then auto ECN, do not check AON(all or none).

dont know how your account works with CAD$ cant help you there, u might have to call support and ask.. i dont recommend buying afterhours because most times its an extra fee of $.005 per share , but u need to double check

[ShotsII]

Just spoke to the insurance adjuster.
My vintage motorcycle that was in perfect condition is totaled.

[Sean]

Hey
Thanks

grrr it sucks having to work during stock market hours

[ShotsII]

This is a post I put on iHub a few minutes ago. Thought you guys would like to read it..

Tomorrow we open at .002.
The reason we didn't jump up today was because it was an afternoon PR, and people take a little while to learn about them.

Investors will go home tonight, read up on stocks, see the news, and act accordingly.

All that taken into account, tomorrow we gap up to .002.
MM's will of course be as greedy as they can be, but that is what everyone knows already.
Prediction for tomorrow's close: .0023

But this is all just my guess-timation. DO NOT invest expecting things to occur exactly as anyone on this forum predicts.

Also, I am worried that people are completely expecting a PR talking about revenues to be released soon. It is my understanding that the expected PR will discuss PRODUCTION!!! Production leads to revenue, yes, but revenue may not be directly discussed in the PR.
In addition, I am in the camp that believes the PR will take a bit longer to be released. I think it will be AT LEAST another week before it comes out. So don't go selling your shares off just because you dont get a PR on the day you want one.
The company has proven several times that it is TKOB (taking care of business). LET THEM!!! Give them time to do what is neccessary to make us all money$$$$$$$$$$ And dont screw yourself out of that money by being impatient.

[GoHerdGreg]

I'll tell you....How could SIRI make such a drastic mistake? Do you think they did this on purpose? I have real strange inner-thoughts about that. They never say a word. They just discourage people.

It is all a weird game they are playing. Either that or they are just plain damn stupid.

BCLE is looking good at the moment!

Bill--
As a person who has worked for himself, started up a business (and sold it), and generally worked hard...I do not understand the (lack of) management as Sirius XM radio. It is mind-boggling, especially when most concepts are simple, ordinary common sense-type things.
None of the higher management has earned the hideous salaries they are being paid, and we all know what they are being paid because their salaries are made public. Not one of them has performed well enough to be paid any more than $50k a year, IMHO.

So, I'm selling about one-third of my shares and moving that money somewhere else. To other companies that actually have a clue as to what they are doing and how to properly go about it.

I sent you a PM about MGLG, Bill.

[bassmaster]

dont know if anyone posted the PR on MGLG , i think Bill mentioned it.. just in case it wasnt printed , here it is


Magellan Energy Ltd. (PINKSHEETS: MGLG) ("Magellan" or "the Company"), an independent oil and gas company, announces that it has signed a participation agreement with TMD Energy for the Lankford Lease in Morgan County, Tennessee. The lease/agreement consists of eleven wells that are currently producing natural gas.

We are extremely excited to begin another project with TMD Energy Inc., who will be the operators of this lease. The acquisition of this lease has occurred at an opportune time, as operators in this area are now able to get their gas to market via the new compressor set in by Citizens Gas. The compressor blends the gas from all area producers thereby resolving the high BTU issue that previously prevented producers from selling their gas. The eleven wells on the property produce gas from the Monteagle formation and are currently tied into a collection system, which is tied into Citizens Gas Utility District.

The operators, TMD Energy Inc., will work with Magellan Energy to ensure that the wells continue to produce natural gas and additional revenues for both parties. Magellan has an option on this lease to frac two shale wells in the future, which would increase the gas production per well on a daily basis. These two wells will be relatively easy to frac as they are located on the thin exposed part of the Chattanooga Shale in Eastern Tennessee.

With gas production from a total number of twenty-four producing wells, The Company will continue to execute its business strategy of acquiring additional gas and oil leases. Magellan Energy is embarking on a new era devoted to achieving a profitable future for the Company.

About Magellan Energy: Magellan Energy is a publicly traded independent oil and gas company (PINKSHEETS: MGLG). The company is actively acquiring oil and gas leases, producing properties, mineral rights, and surface interests in Tennessee and Oklahoma. Once acquired, the company intends to develop each property to maximize the income from each property by re-establishing production, refurbishing and improving the existing production and operations.

Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.

MAGELLAN ENERGY LTD.
Member Of the Tennessee Oil and Gas Association
Website: http://www.magellan-energy.com
Phone: 1-866-365-4724