Wednesday, December 16, 2009

Delta Petroleum Trying for Day-3 Rally (DPTR)

Delta Petroleum Corp. (NASDAQ: DPTR) is no stranger to cult stock moves if you followed it through the energy price bubble from 2007 to 2008.  Shares went over $20.00 in 2006, 2007 and 2008.  Now they sit at a mere $1.17, but that is after a 10% gain as of 8:38 AM EST on over 3.2 million shares.  Average volume is 11 million shares, but there has been strange trading activity in the stock in the last two sessions.  Here is the price action in the last three sessions:
DEC-15    25,418,400  $1.06
DEC-14    8,633,800   $0.90
DEC-11  3,929,400   $0.77


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