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

To: BigBull who wrote (56104)	12/5/1999 6:16:00 PM
From: BigBull	Read Replies (1) \| Respond to of 95453

Can someone please give me a link to a picture of the biggest, baddest deepwater rig on the planet? TIA Bull

To: BigBull who wrote (56104)	12/5/1999 8:01:00 PM
From: Gary Burton	Respond to of 95453

BB--Quite apart from EW, one of the things that troubles me on energy stocks at the moment is there is not yet a positive divergence on macd etc during this downtrend. MACD touching a new low with price is simply confirming the downtrend and we need to see this indicator (and others) refuse to go lower with a continuing drop in price in order for such a positive divergence to give off a sign that the downtrend is very close to reversing higher. So far, I'm not seeing such a divergence signal. That is acting as a warning signal to me that we have more to go on the downside for the time being. This may clear up next week or 2 but in the meantime it seems we would have to go still lower in price in order to establish a positive divergence in various indicators--my 2c