Magellan Energy, Ltd. (MGLG)

[lookoverthere0]

On your first point, I disagree. I think a lot of people (most at this point I'd venture) who are selling at 7 are doing so because they bought at 6.

On your second point, yes... that's what makes this so frustrating. Before August hit, at least we had some benchmarks that we could look for as likely dates when the information would hit. Not a lot of factual information to support those benchmarks, but they sounded good. Now, we don't have that, so there's really nothing a person can do but grit their teeth and hold on.

You can't try to flip b/c the volume is so low, and buying in at 6 is so competitive that it seems to be taking days to get back in once you're out. Even a a small incremental flip has a horrible risk-reward ratio in my opinion. I'm going to sell 1 million shares, have the money sitting on the sidelines for a day or more, just so I can make 10-15% depending on my transaction costs?

I considered going crazy and trying to do another complete flip Friday, but that was when I was looking at selling at 9 and getting back in at 6 or 7, which would be a lot different, but it doesn't matter since the 9 only lasted about 30 seconds that morning.