Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Jane4IceCream who wrote (89035)	3/21/2001 6:40:38 PM
From: SliderOnTheBlack	of 95453

SLB HAL & RIG charts not looking good... Go back & review how the cycle breakdown occured in 97-98 technically. SLB is $25 and 29% off its highs HAL is $17 and 31% off its highs RIG is $18 and 28% off its highs These 3 stocks are "pricing" in OSX 100 here and NOT OSX 165-175 , or BOOM 2002. ... SLB & HAL hit their highs in the Oct 97 portion of the 97-98 cycle & once the 50 dma crossed under the 200 dma - these were "short sells" in the last cycle. It looks like that didn't escape someone - given their carnage of late. SLB has been hit so hard off their acquisition - that I think it's a good DCB candidate on the next rally; but BHI if it breaks thru $45 is a "short" and a dream short at $50ish and I think HAL and SLB have perhaps both seen their cycle highs... SII & BJS if they come back anywhere near their highs are absolute put/shorts as well... ... all I want is one last pullback to OSX 108-115ish here & then one last ride on the offshore driller train & then I'm off - puts & shorts. Q1 Tech reporting will begin simultaneous to the traditional April Tax Season selling - we should see a broad market washout potentially... but; you have to have the CASH to be able to take advantage of it.

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