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 (26032)	7/20/1998 9:50:00 PM
From: dmccoach	Read Replies (1) of 95453

Marc: re: RON, The purchase of RON today does look a little scary to me. My charting software shows the largest negative Money Flow out of RON in recent history (the past 3 trading days, culminating today -- on top of heavy volume). Also, the MACD was improving but nose dived today. I'd venture it's a "help I've fallen and can't get up" situation for a while. (Of course my negative prediction here is a bullish sign, right!?) I can't say I'm entirely happy with FGII either. However, I see a MACD divergence (MACD improving) with price since 6/1 and that is usually a bullish sign... The price can continue to "sag" even though MACD improves, but once it bottoms, I've seen this as a good turnaround indicator. Dan p.s. I'm looking at daily data, not weekly indicators.

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