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 (18098)	4/5/1998 9:53:00 PM
From: waverider	Read Replies (2) of 95453

Paul, actually I think O'Neil says to sell if your price drops 8%...I could be wrong. Anyway, my problem with the system is similar to yours. On an other issue I have seen time and time again that a stock drops below a certain "support level" triggering a sell for most traders, only to bounce back with a vengeance shortly thereafter. It is almost as if someone was trying to shake out weak hands. NO! Look at CDG when it dropped under $35. Several folks here said they would sell if that happened. Then what? It hit 32+ that day and hasn't looked back (yet). I lost some big bucks on Broderbund Software for the same reason about 3 years ago.

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