Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: waverider who wrote (19081)	9/18/2002 1:36:42 AM
From: Little Joe	Read Replies (1) of 36161

I think you could be right about the cup and handle, but the handle needs a little more development. My read is that this stock is at or near all time highs and struggling mightily to break out. Acting against it is the declining volume near the breakout, the length of time it is taking and the overbought condition of the stock. I still think it needs a rest or correction before breaking out. I will let the market tell me. If we get a nice correction, I will look for a buy point. I will also buy the pullback on a heavy volume breakout. But right now I stand aside. Little joe

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