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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: oilbabe who wrote (53473)	10/24/1999 4:38:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

Oilbabe--re OEI--not enough of a retrace to interest me yet. Several others have pulled back 50%+ (which is quite normal after a 5 wave sequence up is completed).A 50% retrace on OEI would target 7.81---Not saying it is going to go that low-it may well have based already -but it would not particularly surprise me to see it in the low 8's or a bit lower. It's a tossup at the moment, as i read the chart. Could go either way----You brought up an interesting point in that since everyone already expected great cash flow results, few are now willing to pay up for them when they are announced. Instead, there are too many holders waiting around who believe "let's wait for the numbers so we can sell to the eager buyers who will come in like lemmings to buy on the news". Sort of makes one wonder what will happen to the majors early this week when they announce those great numbers which everybody knows are coming. my 2c fwiw