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

To: chowder who wrote (40067)	3/11/2005 1:41:54 AM
From: whitepine	Read Replies (1) \| Respond to of 206223

Can anyone define (or has anyone defined) a root/base PE for stocks in the sector? At what point will we hear, "XYZ provides real value at this price."? What are your views about the low price for the next 6 months: PTEN XOM, for example? wp

To: chowder who wrote (40067)	3/11/2005 10:44:16 AM
From: kodiak_bull	Respond to of 206223

Dabum, Yes, RDC has now completed the first step in signalling something is different about this pullback. If today's rise holds then it has completed a lower low. We look for a rally to fail below the most recent high (a lower high) and then can play the new trend which will be down. stockcharts.com[h,a]daclyiay[d20041210,20050310][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G What else can happen? Well, it might not make a lower high, it might rally up on $60 oil and take out the previous high at $33.04, which would signal that the longer term trend is holding, and discredit the lower low. It might rally to a lower point, giving that short/put signal, but then begin a longer sideways chop and not offer up good, profitable trading on the short/put side. We don't know yet, but we do know that the first piece of a two piece puzzle has been put into place. Conservative traders (an oxymoron to many) will wait patiently to see which way the trend signals. For comparison, look at EOG's chart, where a lower low has not yet been put in: stockcharts.com[h,a]daclyiay[pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G Finally, when comparing the two charts, you might also note that if EOG were to break down, the potential for profitable short/put trading on it seem to be higher than for RDC, as it would appear to be a long retrace back down without much visible support to brake the slide. It's a lot of stocks out there, it's a lot of opportunity for everyone. Kb