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: marc chatman who wrote (56368)	12/7/1999 6:22:00 PM
From: Wowzer	Respond to of 95453

API out Finally by: JoeDi123 12/7/1999 6:17 pm EST Msg: 10121 of 10121 Crude down 22,000 Gas up 8.696 million Heat up 3.922 million Refinery rate 91.9% vs 91.3% More in a minute So much for a rally tomorrow....:-(

To: marc chatman who wrote (56368)	12/7/1999 6:23:00 PM
From: ItsAllCyclical	Read Replies (6) \| Respond to of 95453

One ugly API... Crude down 22,000 Gas up 8.696 million Heat up 3.922 million Refinery rate 91.9% vs 91.3% Sell off in morning and rebound later or end at the lows? Tomorrow's action will be very telling. Hopefully DOE #'s will be better. So much for holiday driving to the malls and OPEC compliance. Guess we're going to have to wait another week to rally. Did the warm weather take that long to show up in the #'s? Can we expect more of this next week? This raises lots of question imho. It's certainly going to make me re-evaluate whether of not I want to just sit this out and wait for an uptrend to appear.

To: marc chatman who wrote (56368)	12/7/1999 6:39:00 PM
From: Gary Burton	Read Replies (1) \| Respond to of 95453

Marc--Still too early to say 'for sure' where we are going--If we break 69, that will invalidate one possible count that had 69 as the start of a larger move up and thereby turn the entire upward sequence from the Oct low into a 3 wave ABC---3 wave sequences are corrective and after they are done, the original direction resumes. The original direction was down to 65 in Oct--so if we take out 69, it would mean the Oct/Nov rally is aborted and the decline from 91 is resuming and we should then take out 65---as part of a C or a Wave 3 (C's are usually limited to about 1.6x the length of A--so anything much more than that is likely a 3)---I would not like to see 69 fall, although my impression is that it will in view of the poor API data and also since we still don't have any daily positive MACD divergence to signal the breaking of the downward momentum as of yet. If 69 falls, 65 will likley fall and if 65 falls the next potential Stop and Reverse area is near 53--That seems like a long way down, but until one sees a DAILY macd divergence (use 5/17), it is not safe to bottom feed. To my way of thinking, 69 is a crucial test and if we print below it, I for one will not be buying dips near there. My best guess is that it is going to fall. No new buying for me until at least a divergence in macd shows its hand (lower price but macd refuses to confirm).