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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Big Dog who wrote (4861)12/11/1997 4:49:00 PM
From: Thean  Read Replies (2) of 95453
 
Mike, now that we have random walk, MPT and useless TA thrown into the hat for the winning draw, the winner is... is YES, EATING PIE!

Of all predictors, Eating Pie is the most consistent intraday indicator of a bounce. Would someone please tell the TA threads we have discovered something truly unique, refreshing, and a little fattening.

The day is over, and I feel I'm really LUCKY today. Here is why.

1) Sold FLC at the open today on stop order at 35 5/8. Pick up FLC again around lunch time at 32 3/8 (entered order at 32 5/8 but they gave me a discount I didn't ask for). FLC closed above 34. I'm not going to say TA helps here, but my luck did.

2) Had another stop order for PTEN at 42. But Waterhouse told me no deal because I was stupid as one cannot place a stop order above the prevailing price. They did not informed me of the no deal either. I had to find out and confront them and they told me to get more education. PTEN closed yesterday at 41 7/8! Dumb. Well, PTEN opened at 39 1/8 and it closed around there too. OK, I'm not lucky here but maybe I'll be lucky tomorrow if PTEN moves up. I celebrate because Waterhouse did not get the roundtrip $24 commission from me. Heard that? Waterhouse. Their service is going down after they tried to compete in electronic trading.

Noticed something today, the land drillers which took big beatings last few sessions like UTI and BDI held up pretty good. Let me look the charts more and later...
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