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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 680.44+0.6%Dec 19 4:00 PM EST

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To: drsvelte who wrote (19730)2/9/1999 7:37:00 AM
From: Iris Shih  Read Replies (1) of 69155
 
Doc.,

To be honest with you, I don't follow precious metals. Swc chart looks good but volume is on the weak side. No idea on this one.
I have studied oil drillers and service charts from time to time but they still can't convince me they are now good for longterm buys. At best, one can trade them like Big Dog does. Buy at the low end of the trading range and sell near the resistance. Get out if they break supports again. But one stock might have seen the bottom: slb iqc.com
Good buy at the low 40s and sell at the low 50s. If it breaks 40, run for exit.

How long do you think it will take for the oil's price to be back up again to a decent level? Multi-years?

Iris
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