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: Gary Burton who wrote (53451)	10/24/1999 5:56:00 AM
From: BigBull	Read Replies (3) of 95453

Monday and Tuesday WILL be interesting for the patch stocks. On Monday the following big oil companies will report: Arco, Mobil, Exxon, Texaco On Tuesday: Mobil. A chart of the XOI: moneycentral.msn.com The following items stick out: 1. This index has put in a solid bottom at the 200 dma. 2. On a solid MACD buy. 3. Key resistance at 510 was breached Friday making further upside to 535 possible. 4. This index is trading slightly above it's 50 dma. 5. The XOI and OSX correlate closely, for obvious reasons. moneycentral.msn.com If Monday and Tuesdays earnings drive the xoi up to 535 over the next week or so then IMO the OSX may follow and breach it's 50 dma as well. The OSX is very close to having put in a confirmed double bottom off the 200 dma. The MACD is flashing buy, with a minor bullish divergence. Almost every single OS stock I'm looking at are flashing MACD buys from DEEEPLY oversold levels. IMO the beginning of this week will tell the tale.

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