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: Big Dog who wrote (6251)	12/30/1997 9:48:00 AM
From: Thean	Read Replies (1) of 95453

Mike, Back home and found out my ISP is closing down. Need to find another one soon or I will be out of touch. We have trended up in since Dec 23 and after yesterday (Monday)'s decisive move up the charts are getting ready to register in a short term bottom (still need to be confirmed). If we can close up another 3% today the long Stochastics will likely show a crossover for the upside. We had bounced off the lower BB very nicely on Dec 23 and so far we have relatively good volume (considering holiday volume of the overall market) among the drillers. What I really like to see is we close today and tomorrow at higher highs so there is no debate as to whether we have turned the table short term technically but rather shift our focus on how high is high both short and longer terms. My strategy going forward is to trade often and set stop at critical resistence level. If the momentum is too strong and blows through the resistence like it blew through the support recently, I'll get back in to for the ride. It is better to take small losses than get flooded by the Red sea.

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