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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: RGinPG who wrote (9375)1/23/1998 7:17:00 AM
From: Thean  Read Replies (2) of 95453
 
Did anyone see it on CNBC? HAL up 1 1/4 and SLB up 1 in London trading as of 7am EST

Ron, Look like our wish is granted - a higher open today with with cooperation of S&P (does not appear to tank 5 pts). Stick to your discipline. Sell 25% into strength is a very good thing. Wanted to do that whole day yesterday but the price was too cheap. Now is the opportunity and especially if this is margin money, do so by all mean. An alternative scenario to consider is to set a tight stop immediately after the higher open a touch below the opening low. The only condition the stop will not trigger is if the drillers get bought up by the mo-mo money again, which I think is unlikely. Either way you achieve the objective of wanting to lighten up. Follow through, I say.

The more likely scenario for today (I just reiterate from yesterday's post), is an early high then sideway with downward bias. Today being Friday is not helping and watch those crude prices closely. The resistence will be the low of Wednesday for a lot of the drillers if they are strong enough to touch that level, IMO.

Teddy - sound logical thinking on Optimal Robotics (OPMRF). Sure your dad did not help in this? Thanks for your comments.
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