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

To: SliderOnTheBlack who wrote (55728)	12/1/1999 8:16:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

E&P action at & after the close yesterday... OEI had 2 - 50,000+ buy blocks after the close. BR had a 111,000 & 56,000+ buy blocks at + 5/16ths uptic trades at the close. APA had 35,000 & 85,000 buys at the close KMG moved up over $3+ ... lots of encouraging action. The time to "nail" bottoms is not when everyone has allready acknowledged that the bottom is in; because for the bottom to be acknowledged as "in" - that means it was in about 7-10% ago in most cases... This type of buying in a transition from steady selling & the downdraft we just saw, coincides with technical oversold levels supported by bollinger bands & stochastic's etc. This type of tansitional big block buying at the close is the "real" signal I look for to sense a bottom forming and an indicator that buying into this selloff was correct. Big Block buyers "want" to be in here - that is the good sign. Now they are willing to dump & sell if we continue to fall, but - do not underestimate the importance of having ready, willing & able buyers - wanting to be in here... All we needed was to close out all of this option oriented nonsense and for the API's to acknowledge that the simple but, yet undeniable story of continued rising global demand & falling supply will support $20-$22 crude oil here. Scoop up these bargains here - they won't be laying around long... ie: KMG's +$3 move etc... if you wait untill the bottom is acknowledged here - you'll miss the move.