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: RGinPG who wrote (20561)	4/27/1998 9:23:00 PM
From: Thean	Read Replies (2) of 95453

Intraday BB - interesting observation on IQC's free site. I have never used IQC's free site BB for intraday trading purpose but today I noticed something very interesting. Use ESV for example, 207.95.154.130 1. Notice how in the up phase the trades concentrate on the upper half of the channel and when the trade begins to detach from upper band surfing, it is time to reverse. 2. Then the trades bounce from the upper band and crossover to the lower band and concentrate there and again do the lower band surfing until it begins to detach from the lower band and that again, is the time to reverse. I checked other heavily traded drillers and this phenomenon is also present. I also checked heavily traded stocks like INTC and DELL and one can also see something similar. Now I believe this phenomenon may not be observed everyday when the volume is light or when the stock is stuck in a narrow trading range. But in days like today where people were mo-mo-ing even intraday, this IQC free site intraday BB can be quite a neat tool! Paul Z - have you noticed this? Ron - you mentioned earlier today about buying PDS. A word of caution. PDS is a Canadian stock and its short term cycle behavior can be quite irratic at times versus the rest of the drillers. Since last Oct, I have noticed PDS being quite a bit out of sync by either lagging others or leading others in either up/down move. It still has definable stochastics but if you superimpose it with other drillers you will notice some difference. It can be quite frustrating when all drillers go up and PDS did not move. It can be equally puzzling when it moves and the rest tank. Another land driller that has recently been thrown behind is BDI and to a certain degree PKD. The leaders are still UTI and PTEN. Again the mo-mo love UTI and PTEN. GW is not moving much but it appears to have solidify a base and its earning will be released next week per Yahoo. $5 (or 4 15/16) is the place to sell GW when it gets there. Why take a chance at this very strong resistence point? Use that money and switch into something else when it happens. Oil is up after hour it looks like.

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