OEL - (Otto) Multi based, Gambling Stock.

[boysy]

Course of trades are interesting today seems someone is selling down the price in small parcels the question has to be who is buying these shares perhaps a change in the top 20 next update we see.

http://www.stocknessmonster.com/

[boysy]

otto up at 10 cents recent volume seems to be picking up i guess as other players in the region founder ottos steady as she goes approach seems to be paying dividends. Plenty to get excited about both short and longer term spud for onshore sc 51 drill sometime in feb then theres 3d siesmic planned to be shot over sc 69 and BHP should be well into interpretation of their own 3d siemic shot over sc 55. value of BHP farmin cannot be underestimated heartleys valuation seems to be the most detailed so far gives value of BHP farm in around 7-8 cents a share well worth a read

http://www.ottoenergy.com/IRM/conten...streports.html

[boysy]

phaedrus you wouldnt mind posting a chart on otto and making some comments would you ?

[Rabbi]

With a buyer in at 10 cents hoovering up the shares, there must be some action in the wind.
Announcement imminent?

[boysy]

Good to see the 10 cent level being held not too many are game to hit the stack at 10.5 though. Looks as though someone is more than happy to keep accumulating at 10 cents everything is certainly looking good rabbi

[boysy]

More of the same happening on otto though the buy side is looking stronger than ever. All we need now is a positive ann and we are off.

[Phaedrus]

Phaedrus, you wouldnt mind posting a chart on Otto and making some comments would you?

This is an interesting chart Boysy in that OEL Buy signals came in 3 separate groups.

First to fire were the oscillators shown at the top of the chart. While they picked the bottom with extraordinary accuracy, it would have taken a brave investor to have bought at that point because technically, OEL was still in a downtrend - and in addition there was no volume support evident and the OBV was still falling.

3 weeks later at point (2), there was a break of a confirmed trendline and a break of the OBV trendline but again, these buy signals were triggered on only average volume.

4 months later at point (3) all the ducks finally lined up. There was a break of a confirmed price trendline, the OBV broke above its 8 month peak level, oscillators were rising and volume kicked in (the bar marked in the volume histogram by a green arrow was, at that time, the highest volume Up day for this entire chart.) Time for even the most cautious to buy.

Within a few weeks plenty of confirmation had been provided. The shareprice carried on climbing, the OBV continued to rise, huge volume piled in at point (4) and at point (5) OEL broke through its previous resistance level of 9.8 cents.

[boysy]

Thanks phaedrus thought it got a wee bit oversold technically a wee while back

[boysy]

Interesting to note the volume builds up on the buy side only before open then stays their during the trading only to disappear by the end of trade is someone accumulating but not wanting to force the issue ?. This trend seems to be happening for the last few weeks hopefully an updated top 20 will help flush out if someone is in fact buying but sneaking under the radar. Volume recently well up on the average for the last few months something is happening behind the scenes that's for sure.

[boysy]

land rig contract signed for onshore sc 51

http://www.asx.com.au/asxpdf/2011010...61mr2qc6x2.pdf

Drilling due to commence in early march taking approx 27 days to complete