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: Timelord who wrote (2215)	10/16/1997 10:56:00 AM
From: Thean	of 95453

Alex, as mentioned previously (many hundred posts ago), the free site I find useful is IQNet (sorry don't have the web address right now). It has candlesticks, Bollinger band, moving average, stochastics and so forth. Remember one key thing about TA, it works best if a stock is in the trading range and right now this concept may still not apply to the drillers. We had many trading range cycles this year but the strong rally since last month was fueled by momentum money and the TA fails when money continues to chase higher high, e.g. exponential repulse. Same is true when there is panic selling. Mike Simmon gave a good lecture this morning on trading. I would add one more: decide what type of personality you are. Drillers happen to be a sector one can play buy and hold strategy pretty safely for the next year. But for a lot of people the sizzle is in trading. I personally find trading the drillers more profitable than just buy and hold. But this goes with one's comfort level. Decide first if one can sleep well in the night in the strategy one chooses. The key: discipline and more discipline.

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