Dave, Ironically I was called 'silly' by you when I mentioned this stock was going down without solid news to back up the run..This was when NWOG was trading at 7.2 cents..I am not even sure you have a position now..I have still..
Posted by: davewashdc
In reply to: STRONGUS who wrote msg# 34322 Date:6/13/2007 3:56:29 PM
Post #of 37335
That is sort of a silly conclusion, imho.
Back then the company was buying, but someone else was covering imho. Kind of a battle to the bottom, in a manner of speaking. Also, retail demand was completely in the toilet; and when the company called together a conference call they couldn't even get the time zone difference straight.
Recently, we did have someone buying over the past week or so; and on Friday saw a two million share profit-taking with a recovery in price back to the level before the sale. We also saw the last two days what this stock trades like without the buyback going on, again imho. Also, the company did pull off their recent conference call and followed up with a good, clear pr afterwards.
Also, over the past few months a few key posters have done some conservative dd that in effect lowered expectations around here to a more reasonable, sustainable, and achievable (in the future) level. All the above changes since back to the time months ago referenced by you as the past being prologue, run counter to the conclusion you throw out about price sustainability.
Perhaps the previous large short position is largely covered. Perhaps the company is beginning to get its act together; feeling maybe some of the expectations of the restricted shareholders coming out in the form of internal pressure. Maybe the 30M+ shares retired into company control is have a predictable effect on this equity's share price due to the shrinking float. Also, maybe reduced retail expectations has caused some renewed buying interest in this beaten down dog that can be seen in recent pricing pressures.
I know the above includes a lot of maybe and perhaps's but for gosh sakes I do think the times they are a changing. And the past is not completely prologue here, all imho of course.
I'll take a half penny a day advance anytime; and not worry about future maltusian possibilities based on past problems, hopefully now largely behind us. I do agree, maly needs to land some of these deals he is so fond of refering to in his communications to the outside world, including the restricted shareholder majority. LOL
There is the reality that this company has numerous assets and appears to be pumping them at a profitable clip and is only valued at 6.7 cents per share? Frothy is not a term I would use to describe the action here.
------The above post by Dave was in response to my post below---
Posted by: STRONGUS
In reply to: eik who wrote msg# 34320 Date:6/13/2007 3:37:27 PM
Post #of 37336
I saw those big block buys even when we were trading around 3 cents. Unless the company reports any of those 'June events' it would be difficult for the stock to sustain these gains or even holding them.
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