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Gold/Mining/Energy : Westfort Energy Ltd. (WT-T) -- Ignore unavailable to you. Want to Upgrade?

To: powersurge who wrote (479)	5/13/1998 1:13:00 AM
From: C	Read Replies (2) \| Respond to of 1288

FloJ and All, I have away for the past week or so and just got caught up on the WT action. Looks like we had a very interesting last 5 or 6 trading days. It will be interesting to see what the rest of this week will bring. FloJ---anything interesting on the TA side of things. Clamenza

To: powersurge who wrote (479)	5/13/1998 2:03:00 AM
From: Gary Tvedt	Respond to of 1288

The only information I have on Westfort is what comes in Wheeler's newsletter and what I got from Westfort after calling them on the phone. I think that Andrew Patterson's remarks regarding penny stocks are pretty close to the mark and floj seems to be a wealth of information. If what has been reported by Westfort is only half true, it should do nicely. I'm going to check out what has happened to some of the other small cap oil stocks (Harkin Energy on the American exchange for example)after they have a strike. All a company needs is to have some high profile figure push it on a national scale, like Dorfman did to Tracer Petrolium 2 or 3 years ago. I don't think the hype has started yet on WT, if and when it does, hang on. Once again a stock needs promotion, Wheeler points out that the Pelahatchie field may be the single largest known and proven undeveloped oil and gas field in the entire continental onshore United states. In my view if WT brings in a deep well, this fact alone would make national news.

To: powersurge who wrote (479)	6/28/1998 12:53:00 AM
From: Gary Tvedt	Respond to of 1288

Hello Powersurge: Here's something I've been planing to send you for some time but time is something I don't seem to have much of lately. I've changed it to remove the quotes and tighten up some of the verbiage and of course the charts aren't here, but you should be able to find them on the Internet and check on what the article is saying. Anyway have fun, I though it was rather interesting. Gary TRAKING THE TRADING SPREAD CAN REVEAL BULISH PATTERNS "Investors Business Daily" June 8, 1998 'Investor's Corner' The trading spread is the price range for a stock during a day or even a week of its HIGHs and LOWs. The natural breathing or expansion and contraction , in a stock's price shows up in its chart. You can see a pattern emerge as a stock moves up over several months and then pulls back and consolidated its gains. Some key things investors should consider are: A stock's spread pattern during a base. The close within the spread Expansion of the spread Spread following a breakout Good stocks tend to move up and then consolidate. It's during the basing phase that an investor need to closely watch the range of the trading spread. That can signal if the stock is still acting bullish. Normally you want the daily and weekly trading spread to decrease while a stock forms a sideways basing pattern. That indicates the stock is going through a "calming period" after an advance and that the selling is contained. A decline in trading volume, especially on down days, is good confirmation a stock is calming. Sapient Corporation showed that pattern during its basing period from mid-July last year until late December. The stock set up a "flat base" between 28 and 25 and eventually broke out Dec. 30, driving ahead to 30. It then surged 93% to 57 7/8 during the next four months. A stock exhibiting a wider-than-normal daily trading spread during a basing phase is suspect. Those patters are called "wide and loose." After hitting its high, Sapient pulled back 36% to 37. It's now trading in a range from 48 to 38, a base twice as wide as its previous consolidation. Investors should keep in mind that its wide swings intraday and intraweek raise a caution flag. Vantive Corp. shows what a loose base can lead to. The stock rallied from 25 in early March to hit 39 by early April. It traded with wide swings for four weeks, it finally broke down and dropped to 27. A stock that closes at or near the high of its daily trading spread is acting bullish in most cases. A close near the high of the day, especially with increased volume from the day before, is positive and indicates strong demand. A stock that breads out of a consolidation should show an expansion of its daily trading spread and a close near the high of the day. Dell Computer did just that on its breakout April 21. It broke through resistance at 70 and closed at 74 3/8. Its spread that day ranged from 70 « to 74 7/8 and showed that buyers were overwhelming sellers. The close should be in the top 25% of the trading range to confirm a breakout. Other stocks that have showed an expansion of their trading spread on a breakout are RCM Technologies Inc. on March 2, Gap Inc. on April 29, LCI International Inc. on Feb 26 and EMC Inc. on April 21. The daily trading spread on EMC's breakout constituted a "gap" move. That means it skipped ahead in price on the tape and is bullish because it shows buyers were very aggressive. In breakouts, follow-throughs are key, the three days after a stock breaks out are crucial and investors should keep a close eye on a new purchase. The daily spread should expand when the stock is moving up and contract when it pulls back. Also, on the wide trading spread days, it should close near its high. Dell did just that and so did RCM. The expansion of the trading range in the direction of the trend validates the breakout.

To: powersurge who wrote (479)	7/10/1998 9:42:00 AM
From: Gary Tvedt	Read Replies (1) \| Respond to of 1288

Powersurge: The following is from Wheeler's newsletter. Subscriptions can be ordered by calling 1-800/433-1528. Westfort: fizzle or sizzle? Westfort Energy (WT on Toronto, TSE) went on a wild and mostly downward roller coaster last month, and a lot of you are asking why. The reasons lie in the quirky way trades can be made, and haven't got anything to do with what is actually going on at the drill site - that is, they are technical and not fundamental. Once a stock goes over C$3 on the TSE it becomes marginable - so lots of folks bought it on margin. Then a number of crazy rumors started floating, perhaps spread by short sellers, e.g., that Westfort had hit a dry hole, or was even getting out of oil and was trying to make diesel engines! When the price went below C$3 it triggered margin calls and thus a downward vicious cycle all the way to C$1.70. In the meantime, at the Pelahatchie site, drilling was proceeding on schedule and under budget, with sidewall core samples showing 14 oil or gas rich zones at various depths on the way to the giant Norphlet zone. These are better results than previous best-case scenarios. The entire deep hole is cased down to 15,900 feet, and they expect to hit the Norphlet at 17,200 feet by the end of next week. Drilling for a second shallower well has been completed and will be in production this week. The bottom line is the price is back up to C$2.29, and if the Norphlet is a gusher hit, there'll be a buying frenzy. If it isn't, then Westfort won't be a rocketship ride any more, but at least they've already drilled into enough reserves for the stock to have a good solid run.