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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Bazmataz who wrote (9841)1/27/1998 5:07:00 PM
From: William L. Oppenheim  Read Replies (1) of 95453
 
Tech folks have noticed. Look at RDC, for example, and note the narrowing Bollinger Bands, according to Bollinger, the harbinger of a price break one way or another. The MA's of most of these companies are back to those a year or so ago prior to the runup, that has now run down 30-40%. the fundamentals look good as well, so we are just looking for confirmation of a downtrend reversal. I couldn't wait so I already over the past day bought RDC and ESV. Over the next several weeks I'll accumulate more and take a hard look at NE FLC and GLM as well. It is an unexpected sale on these companies such that 18 months from now when the reduced cap gain rate applies, we ought be ok regardless of the volatility blips. Many on this thread or day traders, but for those willing to patient, this would seem as good a time as any to enter, pending the expected trend reversal.
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