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: Lucretius who wrote (2983)	11/14/1997 8:12:00 PM
From: Thean	Read Replies (3) of 95453

LT, One way to predict future NE price movement is to draw a tunnel starting from 1996 summer when things began to move. If a linear chart does not work, try an expoential one. Of course this assumes things are well behaved and trade within the 25-30 degree turret angle for stocks in long term uptrend like the drillers. Since there will be short term cycles and you have a March call, I would use the opportunity when NE reaches the top resistence line to sell. Alternatively, you can monitor NE using Bollinger Band. I personally have more faith in BB and backtesting the drillers using BB generally works pretty well. Again, sell when NE reaches the top band and don't chase those extra few pennies. As to your Dec call, I don't know... My gut feeling is after this round of selling the drillers will move up but will encounter another downtrend before the year is over due to year end profit locking. If we get a strong move at or after Christmas, it is a good time to bet your farm on that trend. Of course this assumes no political chaos and financial markets around the world are not melting down.

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