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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: chowder who wrote (5402)	6/22/2001 11:07:34 PM
From: Warpfactor	Read Replies (2) \| Respond to of 23153

Dabum, I've been reading up on Japanese Candlesticks lately. This afternoon I went through the exercise of scanning all of my holdings for obvious patterns. For the most part I came up nil, but then I checked KEG, my sole energy sector representative. On Monday and Wednesday of this week, KEG flashed what I interpret to be two reversal patterns:a "dragon-fly doji" on Monday and a "Hammer" on Wednesday. Obviously, KEG did not reverse. Given this, what else do you look at to support your Candlestick TA? Or, am I interpreting the chart wrong? stockcharts.com[h,a]daclyimy[pc25!c50!c200!f][vc60][iut!Ub14!Ua12,26,9!Lh14,3!Lc20]

To: chowder who wrote (5402)	6/23/2001 12:37:31 AM
From: Gottfried	Read Replies (1) \| Respond to of 23153

dabum, since I'm out of ESV I had not watched it closely. Looking at earnings projections I see no reductions, but they may be coming [?] biz.yahoo.com That would explain the terrific drop. [I got fooled this way in another industry once and had a large loss, because I had taken the earnings projections at face value, the stock kept dropping and seemed like more of a bargain and THEN the analysts dropped estimates. That's why I drive an 18 year old car.<vbG>] Ensco just announced a stock buyback - it didn't help the price. My gut says some bad news is coming, BWDIK? I-watch says there's much more buy interest than sell interest, but institutional trading is down this week. iw.thomsonfn.com Lets keep an eye on this one. If there's no bad news coming it's a bargain at a forward PE of around 14 with higher earnings expected next year. You're right - we should let the chart tell us and not try to grab the bottom price. Gottfried

To: chowder who wrote (5402)	6/23/2001 2:18:12 AM
From: Gottfried	Read Replies (2) \| Respond to of 23153

dabum, more on ESV... this must have contributed. It was published Wednesday. OFFSHORE RIG DEMAND TAPERS OFF Despite the surging demand for onshore rigs, ``offshore rig demand is taking a breather,'' due to operators reassessing drilling plans or seeking authorization for increased budget funds, according to Salomon Smith Barney. Other industry experts say additional factors are causing the slower offshore demand, which is being led by current weakness in shallow water rigs, or jackups. Executives of leading jackup companies such as ENSCO International Incorporated(NYSE:ESV - news), Global Marine Inc.(NYSE:GLM - news) and National Oilwell Inc.(NYSE:NOI - news) told investors on Tuesday that current demand had leveled off at close to full capacity. ``Offshore rig utilization is at 98 percent,'' Banc of America's Wicklund said, citing the imminent departure of six to eight rigs leaving the Gulf of Mexico for the pricier contracts of West Africa this year. Energy hedge fund manager Iain Smith puts the number of Gulf Coast jackups leaving for other waters at between eight and 12, which he expects to pressure day rates. Also pressuring the jackup market, is ``a handful of idle rigs,'' seasonal decline for exploration and production that should pick up in the third quarter, and the effect of majors such as Chevron (NYSE:CHV - news) and Andarko Petroleum(NYSE:APC - news) dropping a few rigs, Smith says will be picked up again in a few months.< [snip] dailynews.yahoo.com G.