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: Broken_Clock who wrote (10574)	2/4/1998 6:04:00 PM
From: Ms. X	Read Replies (1) of 95453

Dave, SLB reversed up today after making a much higher bottom. Next buy signal is at 78 which will put it right at the bearish resistance line. A move to 80 will break that resistance. This move today changed the weekly momentum to positive (daily was already positive). HAL has been trading above its bullish support line and looks great. Sitting at resistance with a triple top at 48. SLB and HAL are following the sector well. If the sector starts to go we will see it in these stocks but I don't see any indication that is going to happen soon. Both show demand is clearly in control. Even if the Oil service stocks move down tomorrow, we wouldn't be in any danger of loosing ground. It would have to really slide, I mean REALLY slide down. A crash of sorts. The NYSE bullish percent has reversed up. We have a rally at hand but make sure stops are in place. All the best, Jan

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