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: Chuzzlewit who wrote (16246)	3/24/1998 2:04:00 AM
From: Dwight E. Karlsen	Read Replies (2) of 95453

The TA itself is mathematical. It is making the decisions based on what the TA says which is an art. This rationalizes the fact that TA does not anticipate major moves. Like I said, the TA was screaming "buy" as of close of market Tuesday, so the buy-in day according to TA was Wednesday. One would have done very well in just a week to listen to the TA, and not one's thumping heart which feared more bad news. IMO, it would have been a high stakes gamble to put more money in the market on Friday. If the deal would not have gone through in the middle east, these stocks would have gapped down and dropped like rocks today, right back down to last Tuesday's closing prices. But hey, I'm sticking more with long-term fundamentals with my current trades. This is what I'm comfortable with at this point in time. I'm an accountant, and it's tax time. I've been too busy to pay attention to the market. That's why you haven't seen me here much. And you won't see me much in the future either, until after April 15th. But at this watershed juncture in the oil market, I indulged in some chit-chat. Have a good night Paul. DK

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