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: SliderOnTheBlack who wrote (27003)	8/4/1998 5:39:00 PM
From: Crimson Ghost	Read Replies (1) of 95453

Recent action in the OSX -- huge declines on huge volume on top of a 50% plunge in 3 months -- convinces me that we are at or very close to a final capitulation bottom. Broad market still has a lot of downside work to do, but the OSX massacre is nearly finished A few days ago I opined that the OSX would drop another 10-20% by October. Well we have already. dropped almost 10%. Oil is not gold -- the powers that be know the dangers of excessively low oil prices.. While I do think we are close to bottom, best not to count on anything more than a modest bounce in the near future. Stocks could base down here for quite some time. Patience may be required to participate in the next big bull run for this group. But the upside potential is so great, I am willing to wait.

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