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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Gary Burton who wrote (36697)2/3/1999 7:10:00 PM
From: marc chatman  Read Replies (2) of 95453
 
Gary, one additional matter to consider is that the OSX would certainly have taken out your target of 48 and change if SLB hadn't held about 15% above its lows. While SLB is a component of the OSX (the largest), it also is a component of the S&P 100 and 500, which have been in raging bull markets. Inflows to the S&P averages may have found their way to SLB, causing it to rise in contrast to other OS stocks (or fall less than it otherwise would have), and thereby distorting the performance of the OSX.

I'm guessing that since EW is pure TA, it doesn't care whether one index affects another. And there is still the matter of crude futures not satisfying your wave criteria.

In any event, I have nice positions in FLC, FGI and RON, and added VTS today. I don't feel a monster move is in the cards, but I'm in this for the long haul, so a drop to new lows is just another buying opportunity.
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