As I mentioned on the "Strictly Drilling" thread, I follow the charts of a number of drillers and oil service stocks using Worden Brothers', "Telechart 2000". In addition to traditional technical indicators, this service has developed an indicator termed, "Balace of Power", or
"BOP", which is supposed to measure systematic buying or selling.
Anyway, the "BOP chart" for DRL/GW has been terrific ever since the early spring, covered with tall green bars. Every day for the last five to seven weeks has shown the maximum sized accumulation response, even during corrections. Among others, PDS also shows a strong BOP. GLM has been fairly strong as well, albeit mostly with mid-sized green bars. GW beats them all, though.
Jeff |
