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 (27971)	8/19/1998 8:01:00 AM
From: SargeK	Read Replies (1) of 95453

Marc, Here is a message I just posted on the YAHOO FGII message board. Thought you might be interested. ÿÿ Gig - $OSX (Oil Service Index) HAS BOTTOMED Pull up the technical chart: 207.95.154.130 e&stochastics=y&symbol=%24xoi Enter Symbol $XOI (Crude Index). In the boxes, check 60 weeks and click Stochastics. Print it. Change the symbol to $OSX (Oil Service Index). Print Overlay them. The crude index closed higher this past week than the week before. The uptick and the pattern is identical to early January where it also closed higher on a weekly basis reversing the Nov Dec 97 decline. The Oil Service Index is relatively new and we don't have the advantage of comparing previous changes in cyclical trends. But, there is enough there which caused me to assert this past Sunday, that the OSX would close higher this week than last week. The OSX bottomed Monday, recovered yesterday and I am certain it will finish this week higher. GLM hit its low on 8/5 @12 tested the 12 on Monday and recovered yesterday. It is on its way SLB hit its low Monday @ 51 and recovered nicely yesterday. HP hit its low @18 1/4 on 8/11 and has already established a short term upward trend. I wont go through the whole list, too much time and space. The whole sector is undergoing a turnaround and I am positive that as fund managers and institutions become less skeptical we will see large amounts of money pouring into the sector. A trickle, perhaps at first and then a gulley washer. I have posted a couple of my trades recently to demonstrate my own confidence. I will stop doing that since it appears to be a magnet for abuse and BOILER ROOM assaults. Good luck and thank you. K ÿ

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