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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Harold S. who wrote (45909)6/4/1999 1:11:00 PM
From: Gary Burton  Read Replies (1) of 95453
 
Harold--fwiw--My trading software is targeting 11 for low on MRL. On a wave count it is near the end of 3, with a 4-5 to come to complete the dip.So, I may be buying in the low 11's----Relative to the package of GLM,ESV,RDC and NE, It would appear that MRL would be 'fairly valued' at approx 11.50 based on today's trading in the other stocks-that is neither a great deal compared to the others or a lousy deal..If one goes back and compares the ratios of closes when the stocks were at their highs in 97, again midway during the drop in mid jan98 and finally at the lows in early99, one arrives at approx 11.50 average relative to the others...So, assuming the others do not drop furthur, I'd like to pick up MRL near 11...I say 'like' as it may not get there
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