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: diana g who wrote (36700)	2/3/1999 8:33:00 PM
From: marc chatman	Read Replies (1) of 95453

<<Re: VTS --- Do you concur with the hypothesis Gary offered that fund-dumping into strength accounts for VTS falling slightly overall on good volume today? I was watching for a little while and had the same feeling.>> My best guess is yes; but it's also possible that someone wanted in and was working hard to hold the price down. The big volume was around 1pm, coinciding with the 5/8 pop. I don't know if that really squares with a fund dumping. Of course, it could have been short covering. More relevant for me is that the stock printed below its December 29-30 low (in fact, it touched Gary's original target of 11 5/8 -- which I think he posted late last week). That creates a bullish MACD divergence on the daily charts. The last time we saw that was mid-October, before the stock more than doubled in less than a month. The trend is still down, but I don't see much more than a point or so risk to the downside from here. I'll be looking to add more, possibly tomorrow, but almost certainly on any dip below 11.

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