GW GREY WOLF Message Board

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Microcap & Penny Stocks : GW GREY WOLF

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To: Mayank Tandon who wrote (66)	11/25/1997 2:42:00 PM
From: Zeus549	Read Replies (3) of 444

Mayank, I think there are several things going on.1) These stocks have been run up pretty high in a relatively short time, so there is profit taking going on in a big way. 2) I think it is happeninig right now due to the Asia situation. The perception is that the worldwide oil demand is not going to be as high as expected for the next two years or so, until they get this thing straightened out.3) The portfolio managers are rearranging their portfolios which relates directly to items #1 and #2 above. I'm looking at it as a buying opportunity. I've been in and out of this stock over the past few months. Got a toe hold again at about 7 last week and will average down for as low as it wants to go. Selloffs like this are like buying things on sale at the market IMO. My reasoning, The overall long term demand for oil is going up despite some short term fluctuation due to Asias problems. Also IMO on any given day , I believe oil supplies could be upset by something happening in the Middle East. Also the long cycles favor the drillers, especially the land drillers like GW. Go look at the charts and see how long they were flat on their backs. They're just coming off the floor. They came off the floor a little too strong and now we are going to consolidate and regroup to better reflect actual fundamentals and not the initial hype that always seems to take place in these situations. IMO, if GW continues to persue their business plans, this stock should be near 20 in a couple of years. Bottom line for me--This is a great buying opportunity especially if it get's down around the 5 level. Sorry for running on here, but wanted to answer your concerns in full--at least as I see it. Are there some other opinions out there??

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