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To: CpsOmis who wrote (64174)4/10/2000 2:16:00 PM
From: Think4Yourself  Read Replies (1) | Respond to of 95453
 
I suspect fundamentals will rule during this earnings season. I agree the BSNX chart suggests we could go lower, but the earnings simply make it a buying op. Solid balance sheet and mostly unhedged NG make a powerful combination.



To: CpsOmis who wrote (64174)4/10/2000 2:29:00 PM
From: ItsAllCyclical  Read Replies (2) | Respond to of 95453
 
I like the BSNX chart. As such I bought more calls today. You're saying it's trending down, well so were most of the other E&P's during that same period. I see a very clear uptrend since the low 7's. We are at the point where this uptrend line is breaking the long term downtrend line I believe you're talking about (very positive). We have oil prices (sentiment to a good measure imho) very near the bottom of OPEC's range and BSNX is holding up nicely. The next move in oil prices will probably be up and gas prices are above $3. And you're spooked?

BSNX chart

askresearch.com

I guess if it was 16 you'd feel more comfortable about buying?

Buying MRO in large amounts today.



To: CpsOmis who wrote (64174)4/10/2000 2:39:00 PM
From: RWS  Respond to of 95453
 
I bought BSNX at 11.75 on 3/24.

The weekly chart looks very bullish to me. It has completed an ABC wave down from 23.50 to 7.5 and is moving up. Week before last it had a very strong move from 11.50 to recent high that gave a nice buy spike in the 21day CCI. In the past there was a pullback from this type of spike and then a big move up. There is a trendline resistance at 13.50 which it must overcome. There is also trendline support at about 12.00. The monthly chart is also very bullish.

This pullback is a good opportunity to buy BSNX.

I picked up MRO today. Weekly and monthly charts look very good. FST also looks strong.

Good luck to all.

RWS