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: Crimson Ghost who wrote (43534)	4/29/1999 4:46:00 PM
From: Gary Burton	Read Replies (3) of 95453

Friday/Monday will be critical days for OSX imo--Today it printed a few ticks above the recent 77.78 peak, thereby qualifying for 5 waves up from the 60.52 start of this Wave..which is what I have been waiting for ...My trading software has 77-80 as a potential key reversal area...If it blows through on Fri/Mon, we will be ok for higher prices as you suggest...But, if it peaks out in here and turns down--as I suspect (most of the good news is out and oil etc is overbought s.t.)-- we may well be revisiting 67ish before we can launch a strong enough thrust to break through into the 80's...My sense is that OSX will peak out under 80 tomorrow/Mon...Am now down to 1 oil stock--PGO--which still looks to me to be headed higher towards 18 before any more serious correction. .... Too much risk of a short term reversal, trading wise imo. If 80 falls, great, if not we will be buying at lower prices. Until proven otherwise, I think we will soon turn back down. My 2c fwiw

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