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Strategies & Market Trends : TA setups-ex th traders -- Ignore unavailable to you. Want to Upgrade?

To: Galirayo who wrote (5433)1/24/2005 8:41:34 PM
From: tom pope  Read Replies (2) | Respond to of 7682
 
Ray, I see overextended stochastics and flattening MACD. Increases in day rates and rig counts are usually signs of a top, not a buying opportunity. I'm not short yet, but I've pared my energy positions to the bone - and I'm an energy bull.

stockcharts.com[d,a]dhclyiay[pb50!b200!f][vc60][iUh14,3!La12,26,9]&pref=G

EDIT - I'll change my tune if PTEN busts thru 20 and stays there.



To: Galirayo who wrote (5433)1/24/2005 8:49:49 PM
From: cthruu  Read Replies (1) | Respond to of 7682
 
In addition to Tom's observations, here is what I see.

ttrader.com

Buyers are drying up, sellers are slamming the up-move spikes and OSX looks tired.

Just my two cents. I am tempted to short some OSX futures - if there is anything like that:)


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