Market Watch for week of 6/29/2009

[bassmaster]

This seems really silly to me. I assume we are talking about 2 large companies here. How is some bored douche "investor" going to get to someone high enough up to influence ANYTHING? Imagine calling your gas company and trying to cause a rift between them and one of their exploration companies. I cant imagine this even being possible. If the deals and contracts between these two companies are that fragile that something as fickle as this could possibly influence ANYTHING AT ALL, we should all be frightened.

it was the karens opinion that it would make the relationship fragile, probably over emphasized it because of all the phone calls being made to TMD and CITIZENS. apparently it wasn't only one douche, but a shitload of douches, lol. he was just relaying a message from Karen. BTW , trying to get insider information is ILLEGAL, im sure people at tmd and citizens werent amused and dont want to go to jail. anyways, mglg is very liquid, there wont be any issues unloading a position if someone is worried about their investment . it is absolutely the easiest cure for any worries..
i believe a few emails were sent by SIRIUS BUZZ posters , so when karen responds im sure the replies will be posted here for all to see.

[thetree]

LOL that made me laugh.
Boy it's crazy that there are THAT many people interested in the PR. Is it safe to assume there will be a profit taking plunge afterword? Is anyone going to play that dip or just ride it out? At the beginning of this thread Bill was asking for people's targets, and I havent seen anything yet? Is it just that hard to call?

[bassmaster]

LOL that made me laugh.
Boy it's crazy that there are THAT many people interested in the PR. Is it safe to assume there will be a profit taking plunge afterword? Is anyone going to play that dip or just ride it out? At the beginning of this thread Bill was asking for people's targets, and I havent seen anything yet? Is it just that hard to call?

yes it is crazy. but that is the SHORT TERM play on this stock... ya i believe there will alot of profit taking , but i dont know how long after the pr is released the retrace will begin, it may be same day or 2 or 3 days later. i stated it before its very important to have level 2 when trading. you can see the action as it happens.

its hard to predict a price cold. without a deep enough chart to compare, it gets very difficult. the one thing i can predict is when the PR is released (if good news) it will blow past the top resistance level of .0033. i know people dont really know where this can go so people have to figure out what profit will make them content. trust me when the pr comes out, me ,bill and others will be posting play by play .

as of right now, im leaning towards unloading my position then reentering when i feel the retrace is complete.

[billhart22]

LOL that made me laugh.
Boy it's crazy that there are THAT many people interested in the PR. Is it safe to assume there will be a profit taking plunge afterword? Is anyone going to play that dip or just ride it out? At the beginning of this thread Bill was asking for people's targets, and I havent seen anything yet? Is it just that hard to call?

Hey Tree, good evening!

Yes....it is that hard to call at this point. Mainly because we don't have a clue how high it is going to go. Do you have a hypothesis? I don't, because the last couple of runs didn't have any numbers. Now we have gas and oil and have 11 more leases coming up and two shale project options, consequently I don't have a frigging clue!

I can see why these other companies would get pissed having to take MGLM's phone calls. The people calling these other companies are barking up the wrong tree, but phone calls are not going to get in the way of money. If the calls are so bad then Karen should put out a PR about it.....not piss and moan to one guy on a telecommunication.

What do you guys think about that?

[billhart22]

This is the post that Shots gave a link to. It was posted on IHub by DangerMousebuu:

Perfect Cup and Handle + Revenue Projection

Here's a picture of the cup and handle for MGLG side by side with the textbook definition.

http://yfrog.com/5scuphandlej

The world petroleum industry says that the average amount of natural gas from a well =

10,000 m3 - 50,000 m3 of natural gas per day per well

times price of natural gas / m3 (call it .33)

times the number of wells (24)

= $79.2k - $396k per day production.

= $2.45 million - $12.28 million per month

= $29.4 million - $147 million per year

"The upper paleozoic reserves take up 76.4% of the proven natural gas reserves. The permeability of sandstone gas reservoir is 0.5~2.0 md. Poor in reserves, on average, the gas-bearing area per square kilometer only deposits 1.3 billion m3 of natural gas reserves. The average daily output of a natural gas well is only about 10,000 m3. The lower Paleozoic reserves take up 23.6%. With higher permeability in carbonate gas reservoirs, the average daily output of a well reaches about 50,000 m3. "

[thetree]

Well i saw that post on Ihub about the cup and handle formation and I thought it was very interesting. Crazy how much it looks like the IDEAL formation! I did a search on google images for cup and handle to get an idea of typical handle movement. A lot of the images were on investment education sites so it was interesting reading all about the "theory" of C&H. One person says "add the depth of the cup to the breakout line" to get a target. This would put us around .004.
A number of the sites I found were just people bragging "LOOK AT THIS GREAT PICK I MADE ON THIS STOCK". They showed the chart and they were mostly 2-3X the depth of the cup.

Almost every stock shown in the pictures I found were mid/large cap stocks. I tried searching specifically for penny C&H and didnt really find any good examples. What does this mean? I have no idea. Just from reading 2-3 pages of theory, it seems like the whole formation depends on good PR to keep it from becoming a double top and swing the handle up instead of continuing down. Does this really make it a technical pattern if it relies so heavily on PR? I know nothing about TA, so please help.

[billhart22]

Well i saw that post on Ihub about the cup and handle formation and I thought it was very interesting. Crazy how much it looks like the IDEAL formation! I did a search on google images for cup and handle to get an idea of typical handle movement. A lot of the images were on investment education sites so it was interesting reading all about the "theory" of C&H. One person says "add the depth of the cup to the breakout line" to get a target. This would put us around .004.
A number of the sites I found were just people bragging "LOOK AT THIS GREAT PICK I MADE ON THIS STOCK". They showed the chart and they were mostly 2-3X the depth of the cup.

Almost every stock shown in the pictures I found were mid/large cap stocks. I tried searching specifically for penny C&H and didnt really find any good examples. What does this mean? I have no idea. Just from reading 2-3 pages of theory, it seems like the whole formation depends on good PR to keep it from becoming a double top and swing the handle up instead of continuing down. Does this really make it a technical pattern if it relies so heavily on PR? I know nothing about TA, so please help.

Very good post! You had your antennae up when you wrote this one

As to the question about the technical patter, I personally believe the answer is yes. News is very important for all stocks. How long the news carries over in the stock price is another thing. So it can really be both.

Good DD on the subject!

[billhart22]

Hey Guys -

Shots - I sent a PM to Bill the Taxman and invited him.

Bass - I had a day today and now I am sore after hauling my compressor around today. I textured part of a ceiling after I repaired it. So I put everything in my truck and then I went back in and touched up some wall texture and while doing that the brush handle hit the new ceiling texture in a few places, so I had to go dig the compressor out again, all of the hose, the drill motor, the stirring paddle, buckets, texture material, re-protect the area with plastic film and then had to mix up more mud, put the hopper back together, drag the hose back in and shot two spots less than an inch a piece big. Then I had to clean everything again and put all the stuff back in my truck. And this is the short version, lol. It was quite a day.

Hey Tree -

It's great to see you posting now. We really appreciate you!

[bassmaster]

bill was that a private job or your own home?

[atmgeek1]

tree, I saw your posts about peoples targets and think that I may be able to represent the "uneducated" investor. I think that I would not have bothered with MGLG just to double my money as I am not a fliper or day trader (though I see nothing wrong with that). So I went in thinking that a triple or quadruple of my investment would be worth the risk, so I will start thinking about taking profits around .004 to .005. Depending on the pr blitz, if any, and the volume and overall buzz I will go longer. My dream is .02

You guys here on this site are very informative and I'm thankful to be allowed to lurk without scorn. This by far is the best forum I've ever visited. I'm a new investor, started with SIRI in Feb., and I appreciate you guys lettimg me educate myself via this site.