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

To: BigBull who wrote (71052)	8/16/2000 7:30:48 PM
From: The Ox	Respond to of 95453

OT Ah.....you been reading my posts before I submit them....how'd you do that<g>!?!

To: BigBull who wrote (71052)	8/16/2000 10:05:53 PM
From: Roebear	Respond to of 95453

BigBull, My post here might give your nomme de guerre some competition, ggg. SLB just broke out of a broadening pattern and is rated very bullish by Security Trader. ST usually rates such breakouts as extremely bullish, but ST has been a little gun shy of the OSX, IMHO, as they seem effected by the same disbelief apparent in many, including Frost. (and perhaps you and I occassionally, LOL). That is not a bad thing for a bull market. The OSX has broken out of a channel, again via STrader, but IMH charting Opinion, this could also be drawn as a broadening pattern and a breakout of same also after today. Now for the real kicker! If SLB reaches chart target of 94 7/16 in a reasonable time frame (chart target courtesy STrader SLB weekly) then it would form (IMHO, not ST) a formidable Inverse H&S pattern with a chart target of 147! SLB being a decent surrogate and large component of the OSX, were this pattern begin to form, then it would indicate that this current rally could be an extension of the last rally (interrupted) and likely that Matt Simmons is quite correct in his thoughts about depletion and the oil market. Boom 2K, and Boom 2.1 and 2.2K, would likely exceed our most fond imaginings here on Strictly Drilling. And if this post don't kill the OSX rally, its bulletproof! VBG Roebear