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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: quehubo who wrote (27407)	11/24/2003 7:18:44 PM
From: chowder	Read Replies (3) \| Respond to of 206338

Que, The chart for PTEN is ambiguous at best. The indicators are conflicting each other and there isn't anything compelling, at this point, to suggest a buy or sell. For those not in, they should wait. For those who are in, they should be very careful here. PTEN becomes a concern when it closes below the 50 day moving average, currently at $27.72. The MACD indicator which measures the trend is showing sell signals. The relative strength indicator (RSI) is below the sell point but, trying to break up through resistance. Most technicians are sitting on the sideline for now. They want to see the money. Those who are buying here are hoping that seasonal activity will boost prices higher. Maybe they will, maybe they won't. Too early to say yet as we are clearly at the crossroad with the advantage bears. stockcharts.com[h,a]daclyiay[pc30!b50!f][vc60][iut!Lb14!La12,26,9]&pref=G Now, RDC showed some activity today that suggests we could see some higher pricing in the next day or two. Beyond that is a stretch at this point, based on the way I see the charts. RDC may have had a selling climax today and we may see a little buying show up in the next day or two. stockcharts.com[h,a]daclyiay[pc30!b50!f][vc60][iut!Lb14!La12,26,9]&pref=G NBR is in trouble if it trades down to around 35.50. If it gets down there, it is signaling weakness and losses should be cut short and wait for another opportunity. stockcharts.com[h,a]daclyiay[pc30!b50!f][vc60][iut!Lb14!La12,26,9]&pref=G NBR is suggesting today that we "could" see a short term move up in the next day or two. Anything generating from these levels will be from a position of weakness and I don't see prices rising too high. That could change over the next few days of course, but for now, caution is advised. dabum