Strictly: Drilling and oil-field services Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: SJS who wrote (2972)	11/14/1997 11:25:00 AM
From: Lucretius	Read Replies (1) of 95453

We needed the volume yesterday, and we got it. We DON'T want these stocks to shoot up 3 or 4% today, we'd see selling and the L-T players would wait for a pullback. We just need to close in this range for a couple days and then we should see a pop when the technical guys like Thean get confirmation on a reversal and start buying. Look at the bounce from the correction early this year and this summer and then yesterday and today---VERY SIMILAR. The fundi's haven't changed, in fact w/ all this increased producer spending they have actually improved. Many are simply waiting for the charts to reverse. Of course by that time, you miss a 5% or 8% move,but you still make some money. As you know I follow NE in detail and the others for simple sector analysis. Take NE: Downside is probably 29 at WORST: If you're looking to buy I wouldn't be waiting. Good Luck! -Lucretius

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next