Friday, June 11, 2010

Nat Gas update: PETD

Petroleum Development Corp.
Thursday, June 3, 2 pm Eastern: 20.83
Friday, June 11, close: 24.97
Gain: +19.88%
Candlestick analysis: "Hold" on buy at 22.43, June 10 (American Bulls)
Summary: One of the week's top gainers in nat gas despite negative margins and returns the past year. Despite $259 million in debt, PETD has revenues of $277 million. A small float of 18.9 million makes this a classic short squeeze, but what happens after they're off the premises?

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