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

To: Thean who wrote (2911)11/13/1997 12:48:00 PM
From: SJS  Respond to of 95453
 
With today's blowoff, many of these stocks are now about where they were in early September.

From a TA perspective, the 21 day MA line has crossed over (and down) on the the 50 day MA line (which in most cases, still points up nicely).

Not being a TA expert, but I think this suggests the short term downtrend confirmed by your stochastics.

As well, stocks like NE, GLM have had 5 or 6 straight down days, including today. Not one up day. Are we seeing a selling climax today?

Any other insights that indicate when a bottom is reached via TA?

Regards



To: Thean who wrote (2911)11/13/1997 1:15:00 PM
From: james paterson  Respond to of 95453
 
Thean,
You say "TA does not cause the weakness in the drillers". I agree that it may not cause the weakness, but think that it can contribute to it because a lot of people watch moving averages, stochcastics etc.

James


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