Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Frank Pembleton who started this subject	2/14/2002 11:25:05 AM
From: Paul Shread	of 36161

From MurphyMorris.com: AMEX OIL INDEX... Energy stocks are the day's leaders. The Amex Oil Index (XOI) is close to hitting a five-week high - after having climbed back over its 50-day moving average. Even greater strength, however, is being seen in the oil service group. Chart 1 OIL SERVICE LEADERS... We recently talked about the possibility of the Oil Service Index forming a bulllish "ascending triangle". The OSX is up again today and is drawing closer to its October/December highs (and its 200-day moving average) near 90. This remains the strongest part of the energy group. Chart 2 NOBLE DRILLING CROSSES 200-DAY LINE... We recently mentioned Noble Drilling as a potential leader in the Oil Service group. In Thursday morning trading, NE is crossing over its 200-day moving average. Group leaders are usually the first ones to cross that moving average barrier. Chart 3

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