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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: IHateSourCream who wrote (122182)	7/21/2005 12:55:01 AM
From: skinowski	Read Replies (1) \| Respond to of 209892

Thanks for the kind words, IHSC. Congrats on the GOOG trade. Looking at the chart of SLB since the low in October 2002, this stock is in a steady healthy uptrend, and it just made a new high. It appears that it does not like to get away too far from its 200 DMA, and it keeps testing it. So far the stock traced out a nice clean Flat, and it looks bullish... and it may accelerate from here. However, realistically, it may also develop a more elaborate correction, with multiple "threes" -- until it once again allows its MA to catch up with the price. There is simply no way to tell. The odds are, however, that the trend will "forgive" an early entry. OT: Just came home after seeing Don Quixote by the Bolshoi Ballet at the Met. Spectacular performance. Great. Anyone who will be in NYC until the end of the month - recommend reserving some tickets.