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Politics : Idea Of The Day

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To: donald sew who wrote (13904)	11/10/1997 4:07:00 PM
From: Judy	of 50167

Don, Thanks for the quick reply. What you say is true based on the technicals. I'm folding in market sentiment and momentum and fundamentals too ... let me give you an idea of how things look. Market sentiment short-term ... rallies are to be sold into. No buyers stepping up to bat across the board. Momentum ... RIG reported earnings today and in all likelihood may close at a new high, I'll check later. But the price-volume action is NOT impressive and seriously lags the past upside momentum on good news. The other drillers rallied on the news, hit trading resistances and promptly sold off, moving up on light volume with no serious buyers. Fundamentals ... will mull the earnings report over, same as the analysts. Will wait a day or so for analyst comments. On market rally, if block buying does not occur ... I will short into strength. Now can any of these factors be quantified into your model? Not sure if you tried, but I've not found a way to quantify what my eyeballs see with a glance at the tape. Talk to you later.

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