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 (9945)	1/28/1998 11:35:00 AM
From: RGinPG	Read Replies (4) of 95453

<TA> I haven't been posting to the board lately because I've was working on my site last nite, staring at charts at the wee hours of the morning, and buying stocks this morning at the dip. Here's the reason I'm buying: Looking at the stochastics, we are just a couple of days from a new buy signal in many stocks (SLB ESV SDC NBR UTI TDW EVI) if they stay close to their current prices (flat, slightly lower, or slightly higher). But the real bullish thing is a CHANGE in the stochastic patterns for GLM NE RIG FLC MDCO CDG PTEN GW RON MDR VRC and especially FGII. None of these stocks will reach a buy signal because their stochastics are too strong since the last sell signal. In other words, they are reaching higher lows. When I look back and see this pattern in the past, it always leads to a powerful move up in pricing. This srong pattern is confirmed in the OSX chart. This all confirms my earlier stated theory that where we are now is in the midst of a turnaround in this sector. I will not miss it. Check my site in about 30 minutes, I'm updating the charts now: lonestar.texas.net

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