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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Thean who wrote (13889)3/5/1998 11:58:00 PM
From: RGinPG  Read Replies (1) of 95453
 
<TA> AS you know, I changed my stochastics trading system to one that would keep me in longer in a rising trend. I'm also following one that has been pretty accurate at calling tops in a rising trend.

The original study ( rgdoczzz.home.texas.net ) was designed for a falling or flat trend and gave sell and buy signals quite accurately for the last 3 mths or so. The last sell signal was followed by a 7% power move by the OSX. It was a day early.

The new system ( rgdoczzz.home.texas.net ) gave a sell signal after yesterday's close as the stochastic turned downward (and crossed it's 3day WMA).

When the stochastic rises above 80 and then falls below 80 the OSX almost always has a significant dip in prices. When this occurs after a quick advance like we've had the OSX always fell significantly afterwards(data includes the last 3 yrs). After tomorrows close, the stochastic will be below 80 unless the OSX rises significantly.http://rgdoczzz.home.texas.net/images/osx-stkm.gif

In addition, may of the individual stocks look like they are bouncing off their upper BBands.

After selling half my TDW today, I'm down to 77% invested in this sector. I'm tempted to sell a little more if we get any strength at all tomorrow (which I doubt). In any case, I predict I'll be back in 125% within 2 weeks.

So, I think were in for a bit of a correction here, but not to new lows, maybe to the 103-105 level on the OSX.
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