So far the $3 level has represented fairly solid support for this stock since the winter. Today GCU is trading back below that price on weak volume, amidst a general selloff for all things resource related in the market. I dipped in to buy a few thousand more shares today @ $2.97 on the expectation that this phase of weakness is a breather before the next uptrend kicks in, and I think the stock will be back above $3 in short order. There is a lot of work planned for this summer drilling season and plenty of potential for upside surprises that could furnish a nice mark up for the stock. And new money will probably roll into the sector this fall to sustain any uptrend GCU may enjoy along the way.

I have owned this stock for several years and this price range seems very expensive to me, but I still think the bias is for new highs later in the year so I can deal with some chop now and build a larger position.

cheers!

mike