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: isopatch who wrote (90658)	5/8/2001 12:10:52 PM
From: chowder	Read Replies (1) of 95453

Hello Iso! How are you? I've been keeping an eye on RTN.B and I did a short term trade in BEAV which is in the same sector. It was a short term trade, 5 days and a 5% profit. Take the money and run! As you know, I've been trying to focus on the short term trade. I don't mind long term positions, in fact I have one or two, but I wanted to try and take advantage of near term fluctuations in the market while the paint is drying on my longer term holdings. >> If you guys are all getting short, we gotta be AT MOST a week or two from a good Intermediate Term bottom in the patch.(g) The time to have gotten short NG and the NG E&Ps was when folks in the know called the top. << I can't disagree with either of the above comments. I'm prepared to turn from short to long at the drop of a dime. I think it's a matter of objectives and know-how as to whether someone wishes to trade short term or not. In dealing with Candlestick charts, a good short term indicator, they indicated to me last Wednesday or Thursday that the energy sector was setting up with some very bearish trading patterns. These patterns are good for a week or two at max. The price of NG has already traded as low as $4.20 today. An AGA build of another 100BCF's may cause NG to drop below $4. If this should happen, we could see a sell-off. So far the Candlestick patterns have been proven correct as the oil drillers are down 9% in a week per CNBC a few moments ago. The OSX and XNG are both falling the last couple of days. Short term trading isn't for everyone, most people have a life and it takes a lot of time. <lol> Yeah, I have to talk about my Bosox while I have the opportunity. Come September it'll be time to short them if they haven't dropped off by then. The press wasn't too kind to Maris, wasn't too kind to Ted Williams either. I liked the fact that Williams gave it back to them. Good luck with your trading too Iso. dabum

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