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: Thomas M. who wrote (23821)	6/11/1998 8:27:00 PM
From: rocklobster	Read Replies (3) of 95453

GLBL looks good for a snap back. It had a 20% pop last week from its low when it first touched 18's. I would have bought it there but was stuck in some longs that I'm finally out of today. FGII looks like it will snap back hard when the next round of sector rotation. hits. Remember 1 month ago when I was shorting GLBL 3 days from the top and everyone having new high euphoria? Had I not been in margin trouble I would have held that short for a profit. Of course hindsights always 20/20 Shorting in a downtrend is always the safest strategy. Any oil service stock that shows a strong rally is a fairly safe short until we turn. Considering that the dow was at 7500 last time we hit 88 on the OSX , This downtrend is actually worse than the last one. No relief rallys along the way either, or at least extremely short lived ones unlike Nov. Dec. GLBL is still in an uptrend and totally confounds me as it seems to be refusing to acknowledge the general sector weakness. Barely 20% off its all time high made 2 days after I shorted it <<< VBG>>>> Live and learn Later, Richard

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