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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: The Perfect Hedge who wrote (14802)3/13/1998 11:50:00 PM
From: Jeffrey Beckman  Read Replies (2) of 95453
 
BB, BOP "Balance of Power" is supposed to measure systematic accumulation/distribution. The scale goes from +100 to -100, with positive green bars representative of accumulation, negative red ones distribution. Yellow bars are wimpy, and can go either way.

I kind of feel that the readings are representative of what they are supposed to, but, for the drillers, probably not that meaningful. Elsewhere, I hang out with a penny stock group (the "MicroCapitalist Research Report") where this sort of info. seems to help a bit more.

Anyway, I rechecked and CDG had a full scale green reading tonight, PTEN and MDCO had mid-scale (60-70%) green. EVI has been in the doghouse with 100% red since the merger. Sometimes they do better in there (g).

Jeff

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