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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: marc chatman who wrote (42277)4/15/1999 3:16:00 PM
From: SliderOnTheBlack  Read Replies (3) of 95453
 
??? So which one is the EW call - 66.8 or 58 ??? (VBG)

I do not see the Street running the OSX up here - why ?

again; they've had 5 chances in 7 months to buy the entire sector 20%+ cheaper than today ?

I remain unconvinced that a short-term correction is not near - when has the Street not retraced during earnings reporting of late ? - I see little good news, but few nightmares as well - as such I do not see a business as expected scenario to light any buying fires here. A few comments from CEO's actually have moved the earnings picture out 3-4 months further than previously thought imho.... RDC GLM HAL BHI comments of late are hardly positive....

Do not confuse my thoughts of a retracement here for anything less than a nearterm trading thought; longterm - Q4 - 1999 & Q1 2000 I would be very surprised not to see us at OSX 85 - 100 and OSX 120 by next year this time; my comments are only trading oriented.

GaryB - which is it - one day blips do not change trends; but do the EW's still show a retracement - or a breakthrough and onto OSX 72-78 ?

I do ultimately see a run from where ever we retrace to here; up through OSX 72-78 immediately upon positive OPEC compliance news starting on May 10th... I just see a deadzone - catalyst deficient, retracement untill then. 3-4 weeks in the deadzone of negative earnings report, after negative earnings report will change things over the next month untill OPEC reports. I see no possible way that the OSX can maintain momenteum through this period.
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