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: marc chatman who wrote (94445)	11/15/2001 5:02:16 PM
From: Gary Burton	Read Replies (2) of 95453

Hello Marc--like a high school homecoming now that we're back to the depths again!---Yes, your EW count is as I see it--actually a double ZZ, but works the same--last 5w down started a few days ago from just above $22--from there I think we did a 1 down to approx $20.50, a 2 back up to $22 and then hard down into today's low near $17.30 (dec nymex)--I see we have rallied off that low now and currently are at $17.86bid at 4.44pm est -maybe it will keep going and morph into a 4 near say 18.50-19.50ish My current thinking is that we will base out near 16ish.If however, the w5 drops more than the $4.70 we've seen the last 2 days (22 dn to 17.30) then the entire wave is more likely extending-which I do not expect. Russia of course may be the key. PGO might have seen its Low this afternoon. We shall see.

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