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

To: SliderOnTheBlack who wrote (60423)	2/16/2000 3:04:00 PM
From: ItsAllCyclical	Read Replies (3) \| Respond to of 95453

My opinion is that OEI has more room to run. This is the second time it tested the $10 level. The first time was the time to take some profits and buy the dip. This is the time to hold in case it makes a nice run. Volume is heavy. It is now above both it's 200 and 50 dma. Only strong buys on Thompson's. I think a run to 11 to 12 is possible before pulling back substantially. Could it pullback to 9 1/2 or even 9, yes, but I don't think much lower. The risk/reward ratio is about 50/50 here as such I'm not selling. Either way I'm down to a core position in my shares that I won't touch. I still have some calls that I'll sell on a pop though. If I was overweighted/margined in OEI I certainly trim a little here.