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Potential Trade on Magellan Petroleum Corporation (NASDAQ:MPET)

Magellan Petroleum Corporation (NASDAQ:MPET) Pops in Pre-Market

Written by Jeff Siegel
Posted June 14, 2013

  • Something's going on with Magellan Petroleum Corporation (NASDAQ:MPET) this morning. Not sure what it is, but yesterday the stock popped 8 percent before the close, and this morning it's up nearly 4 percent in pre-market. Keep an eye on it. Especially if it breaks out over $1.10. $1.10/$1.20 seems to be the major resistance point for this one.
  • Yingli (NYSE:YGE) has announced it's going to stop paying its dividend and ease back on investments in an effort to clear some debt. The company has reported seven straight quarterly losses. It'll be interesting to see how the stock reacts today.
  • About a year ago, energy analyst Chris DeHaemer wrote a ground-breaking report called “The Ring of Fire.” It essentially outlined the companies that would ultimately benefit from the abundance of low-cost natural gas being produced in the United States. The report was ground-breaking because it was nearly 100 percent accurate. And just yesterday, DeHaemer released his new natural gas predictions for the second half. You can read those here.

 


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