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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: JGreg who wrote (2201)10/16/1997 7:43:00 AM
From: Thean   of 95453
 
If one looks at the thread now, we have close to 40-50 postings a day and if one misses checking a day it takes 15 minutes to run them through, and as LT said, mostly nothing. Realized a lot of postings are from newcomers who just heard the sizzle about the drillers and who want to learn. I second keeping the thread on information sharing and education but I encourage people to cut down on one-liner hype postings. I see a lot of questions about why certain stock tank and look for an explanation. Well, this is just the reality of the stock market and things do go up and come down!

I think the recent pullback is quite expectable and maybe some momentum money will be out for a few weeks. Here I think the old fashion TA may become important again in predicting stock movement. Just checked my favorite stochastics for most drillers and yes they are heading down. Unless we have a big runup today this stochastics trend will likely stay for a while until they bottom. This should not be a surprise because we are in the middle of the driller earning season and this is where buy on anticipation and sell on news takes full effect. It happened before as well. At this point the deep water drillers are back in favor and look for lesser volatility in RIG, DO, NE compared to CDG, MDCO and GLM.
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