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: Jeffrey Beckman who wrote (7487)	1/10/1998 4:23:00 PM
From: The Perfect Hedge	Read Replies (3) of 95453

All: The consensusamong the knowledgable ta'ers on SI that I follow is overwhelmingly this: We will have a short weak rally next week that may not last too long.After that we will retest Oct lows of 6900 on the Dow.We had an outside reversal week last week(for explanation: exchange2000.com and that signals big time bear move for the dow.Even the guru,Donald Sew,is buying puts on this next rally. Our stocks are so oversold it's scary but I think we're definetely heading lower after a rally.We're so oversold that our sector's rally could be really strong and I will sell into that rally cause I think the next move down will be 25% at least.We can't fight the bear that has moved onto Wall Street. I'll be looking to pick our stocks up even cheaper: EVI at 30 FGII at 19 GLM at 14 MDCO at 13 and so on......... Sorry to be the bearer of bad news but it's all imho and we've fought the trend long enough.I still have no fear but maybe I'm growing some brain cells. I have to confess,if we get our rally,I'm buying puts on EVI and the osx. GD

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