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Politics : High Tolerance Plasticity

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To: Wowzer who wrote (1674)	3/15/2001 11:28:45 AM
From: The Ox	Read Replies (1) of 23153

siliconinvestor.com I think there is a very good chance that the OSX will continue down until it hit's the uptrend line (connecting the higher lows on the weekly chart). Relative to the overall market, the OSX has held up remarkably well (and we all should know why). I am very bearish for the short term on this index. I mentioned a few days ago that I sold off my UTI but I should have added that my cost position in that stock was $4/share (split adjusted). While I'm a believer in the long term future of UTI/PTEN, I think that 1) they've gotten ahead of themselves, 2) the prices of oil + NG are continuing to show weakness, and 3) profit taking in this market is very hard to resist. We saw RIG run into resistance right where the chart indicated it would (54-55). I think we'll see downside until we reach some of the more significant support levels and/or we get a change in the futures markets trends. JMO, Michael

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