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: SargeK who wrote (57580)	1/7/2000 9:25:00 AM
From: SargeK	Read Replies (2) of 95453

Time to revisit technical analysis Again, using a certain overused named Company as an example: quotes.barchart.com As indicated in message #57582 Message 12416612 Buy/Hold/Sell Signals generated by computer programs are based on history of stock price behavior. By examining CONSTRUCTION of these charts they may be used to PREDICT the signals BEFORE they reflect a change in trend (and presumably investor sentiment). Coupled with improving fundamentals, the technical chart with mathematical certainty WILL further develop a positive bias. (#57289 Message 12368584 a recap of future prospects posted on the day of the all time low of 6 5/16) Just before Christmas the Chart reflected 100% Sell, Short, Intermediate and Long Term. At yesterday's close of 7 our example has already RECOVERED 11% since the Dec 23rd bottom of 6 5/16. When it hits 10 a 58.4% recovery will be realized and the computer generated signals will continue to reflect decreased sell signals, increased HOLD/BUY signals. Even if no price increases occur from yesterdays close, the chart by the very nature of its construction will continue change from Bearish to Bullish. As predicted, the shortest technical measure is now signaling BUY and as predicted, other sell signals have been replaced by Hold which will later (AS TIME ELAPSES) be replaced by BUY (if the fundamental status quo is maintained or improved). With the bad news behind us and more positive news expected over the next few weeks both the fundamental and technical bias should continue in a positive direction. I apologize to those offended by my constant use of this company as an example to illustrate and reinforce analytical comment. I just haven't figured out a better way of doing it. SargeK

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