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: oilbabe who wrote (53659)	10/28/1999 10:57:00 AM
From: SliderOnTheBlack	Read Replies (4) of 95453

Blowoff peaked Oct 8th - watch the money flow in by Nov. 9th (VBG) ....this is the manipultive shakeout; funds & institutions step aside; give the green light to the hedge funds to short & run the stops for them - against no institutional buying interest. No real volume selloff here - and there will not be. Stocks down 5-6% on 1/10 of full volume here - this is immoral - right Geiche (VBG) ? They'll run some stops - it's take out & shake out time... dirty, but legal and it has happened so many times; that those who do not see it - and who do not know how to play it; are merely being weeded out of the market via natural selection (VBG)... Set you buy limit orders for some nice potential buying opps on intra-day lows here & next week; and/or just sit tight if you are a buy & holder and we begin the run post Nov. 9th imho - and it won't stop untill OSX 85+ with OSX 90 being probable reisistance that will be hard to penetrate intially without major positive crude news & price movement. We are seeing a triple bottom in the month of October for many stocks here... interesting. GaryB - any EW updates ? - not that I am going to want to hear what you probably are going to tell me however (VBG)... ... I see 65ish fundamentally as the point where buyers pour in here - and we may not even penetrate 68-70 other than an intra-day thanks to the E&P earnings strength. We only need a couple of Oil's to leak 2000 cap ex budget increases here to spark some optimism.

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