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: Harold S. who wrote (47229)	7/1/1999 5:54:00 PM
From: double-plus-good	Read Replies (1) of 95453

i'm beginning to feel short-term bearish about the situation. oil spikes near 20 dollars and the osx really can't hold the rally. i'd be curious to get an e-wave update from gary. at this point it doesn't feel like we'll hit 83 before retesting support somewhere further south. a lot of the second tier issues i am in are breaking down. my sole brightspot today was core labs which was extremely oversold. some of the really distressed issues like keg, pkd, and omni starting to pick up a little but many others treading water or losing ground. scswf really seems stuck at 11. i'd love to get some specific TA observations on the near-term view. i'm keeping some cash on hand for some big option bets at osx 65 -- if we see it. near-term it looks like playing puts will pay out better. good luck, dpg

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