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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Thomas M. who wrote (13278)3/2/1998 12:19:00 PM
From: Broken_Clock  Read Replies (1) of 95453
 
Thomas,
I concur on the long term view. However, OSX has backed down quickly from 107.82(107.2 at the moment). It appears that the OSX is forming a slightly uptrending channel. OSX must break 108 and hold in order to break out from the forming channel. Clear sailing to 113 after that. Again. Many may not ascribe to TA but many funds and traders do. They control the majority of money driving these stocks. They know w 108 means to the OSX If we get afternoon move up and hold above 108 then I would will go long again.I think if we get 108 then most likely we will slam through convincingly to at least 109. I imagine a lot of buy stops will be triggered and we'll be rockin'.The best strategy right now for long term investors is to see if we back down from 108 and if so I would consider selling March calls.
PK
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