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Strategies & Market Trends : Point and Figure Charting

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To: Mr. BSL who wrote (7418)	9/18/1998 2:33:00 AM
From: Gottfried	Read Replies (1) of 34811

duke60, you said >you can look up the various oil service subsectors and see that when they start moving up from the bottom (180 to 198 out of 198), they usually move up into the top ten subsectors and stay there for a while.< I assume you meant to say "198 to 180 out of 198" ? Last time the sector made a big move up in '97 earnings forecasts called for much higher earnings in '98. Now forecasts for many companies call for reduced earnings in '99. Dayrates for drillers are decreasing now. Since most drillers are not adding capacity, reduced day rates=reduced earnings. GM

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