Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Evolution who wrote (54446)	11/11/1999 9:30:00 AM
From: marc chatman	Respond to of 95453

As I see it, there has been a technical drop in crude starting late yesterday, which was indicated by a bearish macd divergence on the 10 minute chart (a similar divergence to what I saw on the OSX chart). We got the OSX dip started as well, but a couple of hours and about a point later than I thought it would. When I say bearish macd divergence, I'm essentially referring to a slowing and then reversal of buying momentum. Strictly my opinion -- sometimes the price of crude (or a stock) moves down simply because longs who have made a profit want to cash in or because shorts feel the price has run too far too fast, and then other people start to sell when they see the price dropping. There doesn't always need to be a piece of news to cause this -- although we consistently try to see commentators try to find some piece of news to rationalize a price change. Of course, that's the basis for TA, and I've heard some rumors that not everyone subscribes to TA. <g> My guess for the OSX is that we see maybe a bit more weakness, but a move above yesterday's highs before we see a dip possibly to the 74 range. But Gary's view that we are in the early stages of a major move up is something I won't argue with.