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: articwarrior who wrote (55883)	12/2/1999 2:14:00 PM
From: Gary Burton	Read Replies (1) of 95453

Arctic--What do you think the Sellers of OEI are thinking? Do you think that they are not aware of what you say? If they are aware, why are they selling and why has this been going on for several months now?---don't misunderstand me-I own OEI from 8-but I think the FA backdrop is known by all so it adds nothing at the margin where buyers and sellers trade.-----If XOI dips below 506 today (now 507.4), it will complete 5 waves down from the recent peak of 543--suggesting that after a rally to say 525, another 5 wave down move below today's low will then ensue--could in fact take out 470 which was the low from which the straight up 'moonshot' rose, only to fail 3 pts below the 1999 peak of 546. Breaking 470 would be troublesome. Not saying it will fall, but my thinking is that the current downdraft will rebound a bit and then go lower yet. Whether it bases above 470 I don't know.

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