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To: A. Geiche who wrote (52050)	9/28/1999 6:01:00 PM
From: Douglas V. Fant	Read Replies (2) \| Respond to of 95453

AGeiche, Both major E&P's MOB and XON reversed late day on heavy volume- so at least those two major E&P's support your argument technically ... haven't looked at the rest f E&P's yet....

To: A. Geiche who wrote (52050)	9/28/1999 6:14:00 PM
From: Gary Burton	Read Replies (2) \| Respond to of 95453

fwiw-which may be 2c only-- I watch 3 indicators to tell me if we have yet reached the same maximum oversold position on the overall market as we did last Sept/Oct---as i would like to see that we were there before jumping in the water. On all NYSE and Nasdaq stocks combined, these 3 are ...1)The %>40dma (last Fall got down to 8-9%..tonight it is at 18%).....2) The % 2 channels below the 40dma (last Fall, it got up to 46-48%...now it is at 28%....and 3)The % 2 channels below the 200dma (last Fall it got up to 56-57%..now it is at 33%).......bottom line, we aren't there yet folks.