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

To: hdrjr who wrote (58110)	1/7/2000 2:02:00 PM
From: upanddown	Respond to of 95453

Nice start to the year on rig counts..... US 786 +15 CAN 404 +108 NA 1190 +123 GOM 123 +5 OIL 158 -7 GAS 627 +21 John

To: hdrjr who wrote (58110)	1/7/2000 2:57:00 PM
From: hdrjr	Read Replies (1) \| Respond to of 95453

From the Pnf thread, OSX 91 is the real number to watch for a major breakout, of course that corresponds to taking out previous high. To: hdrjr who wrote (4560) From: Ms. X Friday, Jan 7, 2000 2:25 PM ET Reply # of 4564 Hi hdr, A bullish catapult is when the chart is in a confirmed up trend, meaning no sell signals, higher bottoms and tops. Looks like this. X <--Double top break. Triple top break-->X X <--Double top Triple top --> X X X O X X O X O X O X X X O X O X O X O X O X O Higher bottoms. X O X O X X O X O X O X This shows demand is clearly in control. The OSX chart isn't in a bullish catapult currently but it is on a buy signal and looks to be basing. 91 ? <--If it can move to 91 it 90 X --X * --------* ----------\| --?---will break a spread triple 88 X O 9 O * X * \| ? top which would be 86 X O X O * X O * \| ? bullish. 84 8 O X O * X O * X ? 84 82 O O * X O C * X O ? 82 80 ----O --------X O X O --* X O ? ----80 78 O Buy signal-->X 1 <--recent pullback 76 * O X X O O X X 76 74 * O X X O X * O X O X 74 72 * A X O X O X * O X O X 72 70 ------O X O X B * ----O --O \| -------------70 68 * O X O * \| 68 66 O \| 66 The Oil Service stocks, the sector, is currently in X's at a low level which is good but it has lost a little ground. Only 1.2% from reversing down. This wouldn't be a major negative since the sector is so low currrently. I would evaluate by individual stocks what positions to take. It looks like the stocks are in a good position and would be fine for a longer term hold. I see nothing negative here. A bullish catapult isn't something one would predict. I think you mean they are predicting a big move in this sector. If the sector doesn't reverse down that could be true. It is at a low level. I'd have to look at some particular stocks to see how they look. If the OSX breaks that spread triple top well then, it may certainly mean a big move for some of those stocks. Sorry that didn't copy well, see below: Message 12501335