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: Broken_Clock who wrote (20723)	4/29/1998 9:47:00 AM
From: RGinPG	Read Replies (3) of 95453

I was about to rebut your evaluation of TDW's chart, but had a second look at it today, and I think you may be right. The fall from 41 (it had good support there) to 38 was very concerning to me, especially at a time when the other boats (and most of the rest of the sector) were still making higher highs. There must be a reason for that. Looking at the chart, it went down after the last buy signal, but now the stochs seem to be making a double bottom and are turning back up. This is one of those rare instances where the buy signal was too soon, but now we're getting a second buy signal which is almost never too soon. Looking at the fundamentals, it has had minor downward revisions in earnings estimates the last two months (in the 2 to 5% range) which is much better than a lot of stocks in the sector that are doing well stock price wise. The last 4 qtrs they have had positive earnings surprises, and their gross margins have been steadily improving over the last 8 quarters rgdoczzz.home.texas.net (Something new I've been following). So, I will take advantage of any weakness the next couple of days to double up also.

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