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

To: Thean who wrote (3085)	11/18/1997 4:48:00 PM
From: Michael Berkel	Read Replies (2) \| Respond to of 95453

<<same thing happened in January of 1997>> Would you please refresh my memory? How long did we stay in oversold or maybe even ulta-oversold territory in January of 1997 before the tables turned? Do you believe history will repeat itself that simply? And do you see any explanation why the whole sentiment totally changed in less than 2 weeks? Do you really think that it's orchestrated..or do we have some real worrysome reason te believe that the fundamentals all of a sudden have changed this time? I always appreciate your knowledgeable imput here. Thankx. Michael B.

To: Thean who wrote (3085)	11/18/1997 4:52:00 PM
From: pz	Read Replies (3) \| Respond to of 95453

Thean, As a person who works in the oil business and owns several of these oil service stocks these past couple of weeks have been brutal in the market. I own MAVK among sereral others and even called them today just to see if anything fundamentally has changed. They say that business continues to be stong and that they continue to be on track to meet analysts forecasts. Just taking a quick glance at a lot of these service companies it appears that most of them are going back to their 200 day moving averages for support. I am looking (praying) for a turn around soon. Regards, Paul P.S. Here locally in West Texas we are having a mini boom. We waited 3 months to get a drilling rig on our last well and things are not getting any better.

To: Thean who wrote (3085)	11/18/1997 4:55:00 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 95453

Thean...you are so right...looking back over several bellweather charts like FSESX, HAL, TDW I can only state the obvious...the charts are beautiful. Even in the most bullish periods there have been pull backs allowing buyers to hop on board. Jan-Feb-Mar looks good the last two years. All those funds hopping on board.I noticed several bear declines. Percentage wise, last May looks alot worse for TDW than the past few weeks. Ido notice a triple top has formed. I would venture the next two weeks is indeed a precursor for the remainder of the year. If we drop from the three tops and can't regain new highs then January looks like a good bet. But, hey! I could be wrong(and probably I am!). Have you done any weelky candlestick analysis that shows any patterns forming for specific days? Such as Mondays generally up, Tuesdays down, etc.