[Off topic]
<<PS: have the drillers bottomed???>>
The drillers have dropped through a black hole and vaporized. Guys over on the drilling thread are jumping into coffins and getting fat on pie (one of the guys takes a pie break everytime the prices go south). The TA guru took all his charts and tossed them out the window... I've never seen stocks pounded so hard with no change in fundamentals, earnings, no downgrades, nothin (well, maybe tech stocks). It appears to be nervousness over oil prices and Asian flu. The charts are so bad, no one can call a bottom right now. I've cycled in and out twice, and this third time I decided to tough it out, and its been a tough ride. I've been eyeing elevator shafts recently <vbg>. There was a reversal today, but I couldn't guarantee a sustained ride. If you want to be nimble, you might catch some upside in the next couple of days. There will definitely be a gap up tomorrow as the prices went ballistic about 3:45 today. Institutional buying?, hard to say... I'm long GW, FLC, PTEN, RIG, & DO. Right now we're waiting for the big boys to start buying again, as most of the damage was probably due to year end profit taking. A sustained, upward rally will probably start after the first of the year as earnings start coming in, volatility is likely through year end. FWIW.
Alex |
