Nat Gas update: DPTR

Delta Petroleum Corp. 

Thursday, June 3, 2 pm Eastern: 1.13

Thursday, June 10, close: 1.23

Gain: +8.85%

Candlestick analysis: "Buy Confirmed" today at 1.17 (American Bulls)

Summary: Tiny company with heavy margin declines and returns, plus serious debt ($625 million). Even the float isn't exactly tiny (184M). Would not touch this without a compelling reason.

Last wall of defensive offense

At some point, if the market keeps bottoming (Dow Jones -229, NAS -46, S&P -23), natty gassers will cave and give back enormous gains. Half of my tracking list remains green, but UNG has plunged from 8.22 to 8.11 in the past several minutes.

The mini-bubble could burst, which would make the sector a shorter's paradise, especially with the sub-5 issues like FTK, DPTR and HERO. Careful out there.

Just about the only real safe haven today has been (and probably will continue to be) VXX, which is up 6.4% to 30.24, off its intraday high of 30.48. FAZ is up 7.1% to 15.79, and inverse oil SCO is +6.2% to 16.07. TLT, grannie favorite TMF and TZA are also up nicely for bearish traders.

Careful riding with the VXXen!

Natty Gasser: DPTR

Delta Petroleum Corp.

Key Statistics

Profit margin: -251.50%

Operating margin: -242.80%

Return on Assets: -11.67%

Return on Equity: -44.56%

Revenue: 125.66M

Quarterly Revenue Growth (yoy): 62.20%

Quarterly Earnings Growth (yoy): n/a

Total Cash: 13.16M

Total Debt: 625.56M

Shares Outstanding: 282.78M

Float: 184.17M

% held by Insiders: 36.62%

% held by Institutions: 17.70%

CEO: John Wallace, 515K

Candlestick analysis: "Hold" continues after buy at 1.12 on June 3 (American Bulls)