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: SJS who wrote (4336)	12/3/1997 12:38:00 PM
From: Broken_Clock	Read Replies (1) of 95453

Off Topic...sort of! I am really trying hard(pat, pat) to learn this TA stuff. The candlesticks are great indicators. They work better right now in calling tops because the overall treand in the market has been down since August.My IBM puts are looking real good today.We in the oil services are feeling for the bottom and some of us(myself) grabbed a broken bottle or two down in that murky water. IMO the overall market trend is still down. P/E's of 12-17 look a lot better but if the market slowly grinds down then stocks will not slowly rise up. Buyers will look for yield over growth, meaning dividends....one of the more important valuation indicators! Sure, stocks that don't go up in price but pay 6-10% dividends have been shunned recently, but all moves in cycles. I'd like to see these drillers pay dividends, that would encouage more long term holding and smooth out these bumps. In the mean time, short term profits are probably king. Sell the rllies like the big boys do.

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