SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Strictly: Drilling and oil-field services
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Redman who wrote (6295)12/30/1997 4:18:00 PM
From: Thean  Read Replies (2) of 95453
 
Very good sign indeed. The uptrend continues and long Stochastics across the board have shown crossover to the upside. This is bullish and indicates continued strength. The mid-day profit-taking did not hold and strong buying near close means the new found momentum remains intact.

Tomorrow is the last day for fund managers to dress up their portfolio. Sure sucks to have the drillers to be the number 1 holding this quarter. But it sure make a good case when the drillers are up 30% from here and the shareholders looked back at the quarter holding to find drillers all over the place. I would start buying here if I manage a fund.

Did my last switching today, switch some MDCO into GW. I suspect a lot of people are doing the same, switching between stocks in the same sector without net selling. The land drillers continue to lead the pack. It is scary to see PTEN's spread of 1 1/2 point at times today with not-so-thin volume. Some MM's are eating big pie I'm sure.

If we can sustain this rally into January, look for people to completely forget about oil prices, Asia problem, Iraqi problem and all those hard-to-figure rationale for the recent sell-off. Sure like to see that day. For those waiting on the sideline, this is a good time to enter. Friday (first trading day in 1998) and next Monday (first normal day when all traders are back) will be the tell-tale days of things to come going forward.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News