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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: James Cherney who wrote (41583)4/4/1999 10:02:00 PM
From: Bill Hyres  Read Replies (3) of 95453
 
All, FGI, RDC, GLBL, & FLC,

WEll I am going to take my first time plunge with a note and some projections. I am looking for those EW experts to assist as this is what this note entails. As a fan of EW I am looking at my holdings. I am seeeing the approaching end of the number 1 wave of what may be a new bull term for these stocks after this nasty correction. If my TA tea leaves are correct we may be approaching the beginning of a wave 5 end of wave 1. Here are my projections for the end of wave 5:

FGI - 18.50
GLBL - 10.83
FLC - 9.50
RDC - 14.77

After these numbers we may have a corrective time as the fundamentals definately need some catch up time. It should not be as bad as the old correction. As with EW analysis everything is dependant on each of the moves. We definately need the completion of this 5 wave or else we could see a continuation of the old bear nipping at us. As usual there are a multitude of wild cards that could change any direction. The FGI short position is one. Consolidation is another. For the time being I am looking at just the EW and waiting for those other developments.

TO ALL - I am a first time poster not tested in the fires as other great ones on this board. DO NOT take my numbers as a sure thing. It is the old do your own DD disclaimer. I pose these numbers to see if any others can lay claim in a confirmatory way or correct me as I am always looking for new knowledge.
Bill
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