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: RGinPG who wrote (8543)	1/16/1998 5:22:00 PM
From: Thean	Read Replies (5) of 95453

Ron, thanks for the charts. S&P vs OSX (last 4 months) - inverse relationship in November. OSX went bear. Since early Dec, OSX is trading in parallel to S&P 500 with a down bias (if S&P sneezes, OSX says ah-choo!). Therefore, from that point on, OSX investors began to share the same concerns as the S&P investors. Crude dropped below support early January and again all the scare of Asia and disinflation crept back into OSX. If OSX continues to beat S&P 500, then it says we have value and probably some momentum buying. We are most likely out of the bear phase. But we don't have a technical reversal yet. If Asia sneezes, S&P will catch the cold and OSX may say ah-choo again. Have to wait and see. NE - maybe some news leaked that NE and all deepwater drillers are going to be featured in this weekend's Barrons. Great strength for RIG as well. Just watch this. The BIG DOG is going to find at least 500 messages when he returns.

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