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: The Perfect Hedge who wrote (8124)	1/14/1998 8:37:00 PM
From: Broken_Clock	Read Replies (2) of 95453

GD, If you want to use candles, you gotta read it.I knew virtually nothing about TA(still don't) but I found his mix of trends, rsi, resistance, etc. very informative. Basic theory applicable to this scenario in the drillers: 1.Is volume larger on selling days or rebounding days? 2.Are the lows being formed on the RSI, Momentum, stochastics continually lower or flat or are the "bottom" readings getting higher while the stock is dropping? iqc.com Look at SLB and compare the most recent sell off with Dec sell off. Higher readings turned in on the rebounds for RSI, Stochs and volume.Volume seems to be about twice what it was on the Dec rebound. I'm probably not making much sense.The book is much clearer and easier to understand! What we're looking for is an overall decrease in selling pressure with an increase in buying pressure. Dave

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