Replies to post #23465 on United States Oil and Gas Corp (fka USOG)

[Penny_Slayer]

LOL. I thought all of that has already been discussed on the board. The Mini-Run was sparked by the Penny Stock Alerts that were sent out, IMO. Although, we were overdue for a Technical Rally, anyway. It's anybody's guess as to why it didn't hold. It could have been a combination of the massive amount of Short Sells, Flippers/Day-Traders doing their thing, or Note Holders that converted to common stock selling off a portion of their shares.

Nevertheless, I believe we'll make another run to pennyland once the 2010 Financials hit the wire. How far we run depends on how much the balance sheet is improved, and how the market responds to it. How much we retrace pretty much depends on the same 2 things I just mentioned.


~ All IMHO, of Course!

PS

[100Pips]

If you want my opinion, there are three moving averages that are proving difficult to break through as well as a ending diagonal that doesn't want to decide which way to break yet. The dilution, though it did clean up debt, didn't help stock price for the short term. People are waiting for the EOY report before buying at ask firmly believing it will go up as well as being scared they will miss these low prices. Those reports are key, if they are not good this stock takes a big setback. People want that debt cut down or they will take their money to a quicker mover. Pennystocks arent condusive to keeping very long term investors and that is what alot of people see this as untill the debt is reduced significantly. I guess I have blabbed enough. Honest stocks finish very slowly.