3SOF

David Randolph · August 02, 2005, 03:48:12 AM

GW is definitely set to rise. Look at the behavior around the ascending trendline, look at the volume increase yesterday, think about the long term trend in oil prices.

GW is the kind that I want !

David Randolph · August 03, 2005, 05:30:53 AM

GW continues to behave perfectly, technically speaking. The stock opened with a little gap up, came down exactly to close the gap at $7.81 and continued higher. I see this stock closing this week above $8, possibly at a new 52 week high above $8.20.

David Randolph · August 04, 2005, 07:30:40 AM

What an unpleasant surprise on GW

Anyway, I'll keep the plan, and if the stock is set to close lower today I'll have to take a small loss on this one.

RULE #13 : Take big profits and small losses

It's a lot easier to say than to do, believe me. But it is wise, it is simple and brings money over the long run, possibly a lot of money.

Diversification, respect for the market and discipline in every aspect of your trading will bring you 50% a year. Have you ever tried to compound 50% a year through a period of 20 or 30 years?

Coming back to GW, there's nothing I can do, if if I see the stock will close lower today (that is, clearly below the ascending trendline) I'll sell before close.

basonista · August 04, 2005, 08:13:21 AM

Oops, wrong chart here David

David Randolph · August 04, 2005, 08:20:38 AM

Thanks for the warning basonista, it's right now.

Melf Elf · August 05, 2005, 10:02:17 AM

Quote from: Melf Elf on July 27, 2005, 09:40:55 AM
Just bought GW at 7.78 on the pullback to the Symmetrical Triangle breakout. Stop is a CLOSE or obvious late day tank below 7.51. Risk: a loss of 3.5%.

Sold it here at 7.81 for a very small gain. I thought that I was getting a bargain when I bought it 9 days ago, but it's been no bargain.

The past two days have opened at the highs, then closed on the up trendline. Unimpressive, given the rallies in oil that we've had while I've owned it. I'm out.

David Randolph · August 05, 2005, 10:05:13 AM

I respect Melf Elf's opinion but I'm still holding GW. Will sell only if the stock is set to close lower today, that would definitely break the ascending trendline.

(sorry for the late update, some personal problems)

David Randolph · August 07, 2005, 04:41:00 AM

There was nothing I could do with GW but to sell it near the close (at $7.62 as you can see on the homepage).

Took a 5% loss on this one. It's boring to take so many small losses, but this is how the game must be played to get a high performance at the end of the year - RULE 13: Take big profits and small losses.

pompano · August 07, 2005, 11:18:50 PM

Hi David I wanted to mention to you IBD has Grey Wolf as one of their top 10 under $10. I saw this last week, I believe it was no. 3 or 5.

steven · August 08, 2005, 12:44:21 AM

Titan oil and gas...TNOG...

I own this already. It looks like things are heating up for tomorrow and Tuesday.

Do your own DD. I am comfortable owning it. I think I bought it at .034
It is now at .023

Steven

cumulina · August 10, 2005, 05:33:54 PM

I couldn't help but buy!

In at 7.77.

And then reading this (from the yahoo board) - after getting rid of the hiccups from laughing, I was hoping that someone from our very international site maybe could come up with a better translation?

Recommend this Post Ignore this User | Report Abuse
Galp Energia to bid for GW
by: KPillar331
Long-Term Sentiment: Hold 08/10/05 04:40 pm
Msg: 30990 of 31009

I found this information in the Journal De Negocios, a Portugese publication. The article was published today. Here it is translated by Google verbatim:

Lisbon - source from Galp energy said today that Galp Energy will launch to takeover you the Grey Wolf Inc.. Galp Energy, will notifie next friday the Portuguese National Securities Market Commission (CNMV) that it was willing you waive the condition of 75% minimum acceptance level you which its public to offer will be the acquisition of Grey Wolf Inc. shares was subject, taking into consideration that the response received will be sufficient you develop the business project pursued through the to takeover bid. Galp Energy will launch to takeover bid will be Grey Wolf Inc. with the payment of 8,75 euros will be each of the that responded you the to tend to offer, this initial to offer could reach the limit of price of 9,15 euros will be each share of the company. Abaut Galp Energy: Born in the to year 2000, Galp Energy is the holding responsible will be the reshaping of the portuguese energy sector, in the oil and natural gas businesses. Goal Our is you build the oil national and gas company, compliant with modern international standards, you be key to player in the Portuguese economy, and you grow in the international energy industry, by becoming relevant competitor in the Iberian market. Our commitment is you secure the consumers ' preference through integrated energy offers and complementary services in the markets where Galp Energy may obtain competitive advantages, adding value you the shareholders, clients and employees.

stocky · August 10, 2005, 06:22:59 PM

No offend to portugese but their 'name' has been used now quite often for unfounded takeovers. Just want to say in bold its FAKE.

Also suggesting strongly to stay away from yahoo boards and their phoney posters.

GW may have its own merits or demerits. If I am going to buy any drilling services stock then its doing to be this one. Goodluck.

cumulina · August 11, 2005, 02:42:59 AM

I hear you, stocky!

But later there was also this post, so I don't think it's a fake:

http://www.negocios.pt/default.asp?CpContentId=263104&ListComment=1&CpMsgId=325479

You are right in warning about the yahoo-boards...there is an incredible amount of junk there that one have to wade trough.
But once in a while there is a "nugget"

the challenge is just to sift the gravel.
I automatically dismiss

EVERYTHING WRITTEN LIKE THIS!!!!!!!!!!!!!!!!!!!!!!!!!!

Well, we'll see what happens.

My SOSA is doing really well, so...

422fwhp · August 16, 2005, 01:12:44 AM

The 20 & 50dma are about to cross. I'm looking for a bounce off the 50dma.

The only item it needs is VOLUME! Keep it on the radar.

http://finance.yahoo.com/q/ta?s=GW&t=3m&l=on&z=l&q=c&p=m20,m50&a=r14,vm&c=

Melf Elf · August 17, 2005, 02:26:36 PM

Quote from: Melf Elf on August 16, 2005, 04:13:49 AM

GW and others have acted weak during the recent rally in oil, which leaves me wondering if they aren't telegraphing at least a short-term selloff in oil.

GW was down again yesterday, and it's down again today with the selloff in oil that these stocks have seemed to be telegraphing. Oil is off $2.50 today.

The short trade that I outlined in the post above worked out (I didn't play it). GW has come all the way back to the bottom of the Bear Channel (7.13) this afternoon, printing 7.11.

The point of origin of broken bearish patterns is an expected target, and an area where it's a good idea to cover short positions, or at least partially cover them.

News:

GW