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Microcap & Penny Stocks : GW GREY WOLF -- Ignore unavailable to you. Want to Upgrade?

To: Gary Rez who wrote (361)	3/16/1999 12:43:00 AM
From: Ron logo	Respond to of 444

Hi gary, The oil sector in general, IMO is extremely cheap. Aside from that it seems as though .75 has served as support for this issue. I was looking for a breakout for GW at the end of last week when the oils really had a big run.. After further examination of the short and long term charts I found that there seems to be resistance on this one at or around the 1.125 area. Therefore when it failed to break I sold at that level. I still like the stock a lot for the longer term, however I think we will get a small pullback to the 7/8 area before we get another push up. I had a sizable position and chose to close it because I feel it will trade lower before it will trade higher. If I am correct and it does trade lower I'll be big buyer in the ..875 range. Wish the best Kind regards.............RON