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: chuck weir who wrote (18538)	4/9/1998 12:05:00 AM
From: papi riqui	Read Replies (1) of 95453

I attended a seminar tonight sponsored by the PHLX and featuring Tom Dorsey of Point and Figure (P&F) charting fame. Now, I don't want to start a food fight between the FAers and the TAers (Tom said he selects companies with the best technical patterns from groups of those with sound fundamentals), but he thinks that those who use FA only are playing the game with one eye closed, citing, for example, all the FAers who touted Micron Tech's great fundamentals all the way from $94 to $17. Anyway, he made some very interesting points about the market in general- he thinks we're in precarious territory and urges caution (i.e., think defensively), and the OEX sector in particular. Tom likes oil services and said that OEX calls look attractive, especially compared to other sectors (many of which he sees as approaching dangerous levels). He also singled out DIVE and VRC as particularly attractive individual plays having very good chart patterns. If you are a trader, however, I think Tom's overall theme was to proceed with caution whatever you do. He also made a very interesting comment on gold, but that is another subject.

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