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 (94439)	11/16/2001 5:06:35 PM
From: BigBull	Read Replies (1) of 95453

Hi Gary. Good to hear from you again. Well, if the E-Waver extraordinaire says WTI 16-17 I have to take a look. My original technical projection was 16, based on the topping formation. Then sometime in the late summer I started getting bullish on the US economy again as I thought the interest rate reductions stood a good chance of taking hold. Then came the massive Sept 11 "exogenous event" which forced the completion of the pattern. The decisive crack of the 25 "maginot line" told the tale. I now am thinking that taking out the cycle lows in crude (10.25?) is a distinct possiblity, if only briefly. Are there alternate counts that include this possibility? The reasons are largely related to economic conditions, which I know you tend to eschew in your trading decisions. At any rate these stocks are closer to the bottom than the top so it's time to take a look again. Also, I think the possibilty of tax loss selling looms large in this sector. Haven't looked at too many os charts of late so it may take me a while to get back up to speed.

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