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: diana g who wrote (52378)	10/4/1999 8:25:00 PM
From: marc chatman	Read Replies (1) of 95453

Diana, I took a very quick look at the charts (Bills are on tonight, so I'm not focused on stocks). Virtually every chart is the same. This sell-off is playing out very much like May-June, so I think we get a rally for a few days starting tomorrow or after the API's. Then, I would look for a more gradual sell-off for a week or two, at least. In some instances, that sell-off should take the stocks slightly below the lows of last week; in other instances, the stocks may come close but not exceed those lows. At that point, I should see some macd divergences on the daily charts. In my view, it is a roll of the dice as to whether you get a better price now or in a couple of weeks. I think you could choose OS stocks almost at random at that point and do as well as someone who spends hours on fundamental analysis. But my personal preference if I buy more OS will be for OSX components -- I feel the funds prefer these issues. I'm loaded with FLC, so I probably won't buy more of that. I prefer drillers and service companies, but GLBL is very intriguing as a bang-for-the-buck candidate.

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