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 (56216)	12/6/1999 10:14:00 PM
From: marc chatman	Read Replies (1) of 95453

I just went through a number of charts I don't normally check, and they look worse than I thought. Check out NE -- serious macd divergence on the daily (and possibly weekly) -- just last week. Is that the completion of NE's 5 waves from last year? Some serious money could be made on the short side if that is the case. Also check out GLBL. Two weeks ago I had thought that one was taking off, never to look back. Now, new lows are not out of the question. And WFT shows a serious macd divergence on the weekly chart two weeks ago. It normally takes 3-4 months to work that off. It may be that a handful of stocks have been holding up the OSX. Of course, many stocks made their macd divergences back in September and have spent the past 3 months working them off (HAL, SII, for example). And a few have never shown a divergence (FLC). Whatever happens, it promises to be interesting. Does anyone have access to other sources of TA, such as trendline analysis or P&F? I'm curious to find out whether there is any bullish case for the OSX stocks at present.

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