Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (63988)	5/20/2005 10:44:24 PM
From: TobagoJack	Respond to of 74559

EP, <<Might be about time to edge into buying - oil ... stop orders might be useful>> I think ... worldmarket.blogspot.com Update on the State of Financial Markets Chugs, J

To: energyplay who wrote (63988)	5/21/2005 2:04:35 AM
From: Taikun	Read Replies (1) \| Respond to of 74559

EP, <Might be about time to edge into buying - oil going down and some of the oil majors turning up.> What do you think about what dabum wrote here 2 days ago? TIA, D Message 21337653 The rally this week only took the OSX up to the lows established in early May at $128, then reversed today. It didn't even have the strength to test a declining 20 day moving average. This suggests the OSX is weaker than even I thought it was. In early May, the 150 day moving average served as support. We broke that support this week and on the attempted rally, the 150 day moving average is now serving as resistance. Price hit it and pulled back. This chart clearly shows the technicals are running the show. That 150 day moving average stopped price from falling, now preventing it from rising. stockcharts.com[h,a]daclynay[d20050218,20050518][pb150!b20!f][iu... Maybe it can turn around but it doesn't look good here. Not at all. -and 3 days ago on OIH Message 21331677 Also, getting very weak follow through in OIH. I think it needs to close strong if a countertrend rally is to work here