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Message Boards Settings GMX Resources, Inc. (GMXR) - Quote Info
Re: GMXRP hit a new 52 week high today      4-Nov-09 11:24 pm    
I have traded in and out of the preferred. I bought between $10.50 and $13.50, sold $18 - 21.

The perception of a company's ability to pay the divy and competitive yields are the two factors that move preferred prices (unless they are convertable preferreds, which these are not).

As the risk of default decreases, the price will increase - this is what has happened to GMXRP. Each of the secondary issue of equity that goes to pay off debt/increases cash flow through higher production lowers a risk of default.

At this price, it should trade based on yield and closer to par of $25 - its max price.

The only corrolation could be that conservative, income investors feel more comfortable with GMX as a company, and the risk of default.
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geofisher1

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  Subject Author Rating Time of Post (ET)  
 
I don't know if we can read it as long term good news b...
Rusty_Walla... Rate it 4-Nov-09 04:11 pm  
 
What can you infer about GMXR from the preferred? ...
ThoughtfulM... Rate it 4-Nov-09 06:34 pm  
 
Re: GMXRP hit a new 52 week high today
geofisher1 (1 Rating) 4-Nov-09 11:24 pm  
 
You better buy AIG today-tomorrow earnin...
augispr Rate it 5-Nov-09 10:01 am  
 
good luck.......
morefunthan... Rate it 5-Nov-09 03:25 pm  
 
Better safe than sorry,out of AIG a...
augispr Rate it 5-Nov-09 03:46 pm  
 
The thing I inferred about GMXR From teh pref...
Rusty_Walla... Rate it 5-Nov-09 03:46 pm  
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GMX Resources Inc. (GMXR)

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