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

To: jim_p who wrote (20852)	5/18/2004 3:00:17 PM
From: jim_p	Respond to of 23153

Back in PTEN at 31.55. Sell tomorrow for ??? Sold the other 1/2 of RRI for 8.30. 3.75% is not bad for one day.

To: jim_p who wrote (20852)	5/18/2004 3:55:41 PM
From: chowder	Read Replies (2) \| Respond to of 23153

>>> Nice call on the OSX and PTEN. <<< Thanks. It was pretty clear to me, by the charts, that the sector was under distribution. When you see the amount of selling that occurred two weeks ago, it's an indication that institutions are selling. When institutions sell in that amount of volume, they aren't looking to buy the dips. (see note on chart.) stockcharts.com[h,a]daclyiay[pf][vc60][iut!lh14,3!la12,26,9][J30874401,Y]&listNum=1 It took the previous five trading sessions just to make up ground of one day's trading range from the previous 6th day. Another confirming signal to my comments a couple of weeks ago that the shorts would be stepping in on any rallies. PTEN will be going through a trading range before it gains back the ground it lost from its highs. However, the stock is under distribution still, and we may finish with another above average selling volume day. Anything more than a day trade or a very short time frame is in order at this time. dabum