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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Perfect Hedge who wrote (12120)2/19/1998 11:01:00 AM
From: Jeffrey Beckman  Read Replies (1) of 95453
 
<full scale BOP positive?> Hard to say. It's a positive sign, but somewhat hit and miss. UTI was red going from 38 to 45, but strong going down in the 30's and 20's. GW showed very strong BOP all last summer, from 3 to 10, and never during subsequent mini-rallies, so it worked here. GIFI showed on and off strength in the upper 20's and lower 30's, readings which didn't really help. Stochastics and Bollingers are probably more useful. I think it may help more for overall market sentiment.

I've found BOP useful a bit more often outside of this sector, at least lately.

Jeff
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