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: marc chatman who wrote (21538)	5/6/1998 10:39:00 AM
From: RGinPG	Read Replies (4) of 95453

<TA> I just finished looking at the stochastics, and it looks like there is really no good consistent pattern across the board. Most stocks are in the overbought range, some in the oversold, and some bouncing around in between. Many of the sea drillers are in the overbought range, but never got far enough into the oversold range to trigger a buy signal. I think we are looking at the solid beginning of the bull in this sector, and many stocks will stay in the oversold range now. I'm going to let my stocks ride for the next couple of cycles. FGII has been in the overbought range for a month and a half! Poor LT, he's selling his NE right when it is time to reap the benefits of being a LT investor. Isn't he the one that told us this sector wouldn't turn around until May?

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