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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: SJS who wrote (2876)	11/12/1997 4:40:00 PM
From: Thean	Read Replies (1) \| Respond to of 95453

Time to sell was last week when the tops were reached. A number of people on this thread had identified the short term tops last week. But I think there have been way too much hypes in the sector brought about the analysts who are as good as the last one that appeared on TV. I remember watching that female analyst last evening on CNBC telling people to go out and buy GLM NOW! Sorry for those who followed her recommendation and took a bite. Either she has no TA background or she is just repeating the general consensus. Better time will come but not NOW. Is it too late to sell? According to TA we MAY have a way to go yet before it bounces up. What I'm paying attention to is how low the drillers in general are approaching the previous lows set on the Crach Monday. If they all get that low, then testing the support will be key to the bounce. But not sure if we are going there thought. If we get there and test successfully, then the bonus will be we have a double bottom. For long term investors, you may want to ride this one out. For short term investors, trade if you can affort the time to watch the screen. Time to buy? Not yet according to Stochastics. Things will become clearer when the selling subsides a bit.