DWOG gone bottom.

[Tooty]

I know DWOG was on this forum long ago and it could be a good money maker. I wonder if it could rebound with the recent news as it hit support. Volume is pretty low. Anyone have any thoughts on Dwog? Here's the latest news:

Deep Well Signs Confidentiality Agreement
Tuesday February 6, 1:20 pm ET


EDMONTON, ALBERTA--(MARKET WIRE)--Feb 6, 2007 -- Deep Well Oil & Gas, Inc. and its subsidiaries ("Deep Well") (Other OTCWOG.PK - News) are pleased to announce that Deep Well has signed a confidentiality agreement with Powder River Basin Corp. This confidentiality agreement will allow Deep Well to discuss confidential information with Powder River and explore potential opportunities which may exist. The Company has signed no other agreements with Powder River.


Deep Well will continue to explore opportunities for the company and the benefit of its shareholders. It is the Deep Well's intention to develop the Sawn Lake asset. The company is working on an operational business plan to develop the Sawn Lake project.

[metalheadrr3]

I played this one a while back. Had a recent jump from this level not too long ago. It could be done but I'd wait to see volume step in. I don't like messing with stocks with low volume.

[mlegha1]

Long gone are the great days when it was over $2 per share...it is stuck here for a while with such a low volume...

[soundlanguage]

It's been watching DWOG patiently for over 2 months waiting for a hint of accumilation before the *pop* but nothing yet, it's in dud mode... seems to have a 3 yr history of short highs and a long draggy stall lasting maybe 8 months.

Gut feeling + history says this doesn't move for another month or so but as you know, stocks don't have rules or follow regular behavior because we want them to.
Once 80-100k vol. returns it's a safer flip. Or just buy in now and grow grey holding!

When it touches .30/.31 (if MM's let it) that's a nice time to load up.

[Tooty]

Originally Posted by soundlanguage

It's been watching DWOG patiently for over 2 months waiting for a hint of accumilation before the *pop* but nothing yet, it's in dud mode... seems to have a 3 yr history of short highs and a long draggy stall lasting maybe 8 months.

Gut feeling + history says this doesn't move for another month or so but as you know, stocks don't have rules or follow regular behavior because we want them to.
Once 80-100k vol. returns it's a safer flip. Or just buy in now and grow grey holding!

When it touches .30/.31 (if MM's let it) that's a nice time to load up.

Ya know soundlanguage... I'm gonna take your advice on this. Boring is right, but I will keep it on the radar when and if it goes to those levels (we'll see). .30 would be a great buy... unless the charts fail. thks

[Tooty]

hmmm. now I'm thinking it will go even lower imo .20's perhaps, but could be a good set up for a big bounce. Anybody have any thoughts?

[soundlanguage]

Originally Posted by Tooty

hmmm. now I'm thinking it will go even lower imo .20's perhaps, but could be a good set up for a big bounce. Anybody have any thoughts?

just thinking the same thing, i'm wary of why this is dipping further all the sudden after 3+ months but still picked up some at .30 (.20 would be nicer!)

caution y'all, as always

[soundlanguage]

Originally Posted by Tooty

hmmm. now I'm thinking it will go even lower imo .20's perhaps, but could be a good set up for a big bounce. Anybody have any thoughts?

Tooty the charts don't look so hot, might wanna hold off until it settles.

Guessing it'll touch .25 in the next few days or so with a slow rebound. Higher volume than normal but this isn't done getting pushed down... mad $ only!!

[Tooty]

Originally Posted by soundlanguage

Tooty the charts don't look so hot, might wanna hold off until it settles.

Guessing it'll touch .25 in the next few days or so with a slow rebound. Higher volume than normal but this isn't done getting pushed down... mad $ only!!

Yeah, its steep...you still in at .30? I think the next trading day should show us what to do...

[soundlanguage]

Originally Posted by Tooty

Yeah, its steep...you still in at .30? I think the next trading day should show us what to do...

Yeah i picked up a handful at .30 just before a wee drop, so i let loose a few choice words when i realized what was happening. Nothing like the feeling of having a "SUCKER" sign hanging over your head....

Regardless it's merely a dip in the pool. I'm waiting for a real play as this shakes out more. Later today & mon. should be interesting.