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

To: SJS who wrote (3390)	11/20/1997 5:07:00 PM
From: Thean	Read Replies (4) \| Respond to of 95453

Summary for today's action. 1. Several brokerages pounding the table this morning. All drillers gapped up this morning. 2. The usual profit taking arrives shortly afterward. What is different, but not surprising, is that quick retreat did not materialize this time. 3. For the entire day, the bulls and bears fought hard, with no sure sign of one winning over the other. 4. Towards the end of the day, day traders cashed in some stocks such as MDCO. I noticed that those that managed to stay up tend to be those that got hammered the hardest in the last few sessions, e.g. PTEN, FLC, RB. Really surprised to see RIG not able to move up while DO and ATW could. Think this is a one day abberation. So where do we go from here? Not as sure as I was at 3pm. The candles will flash white for the first time in almost 2 weeks for some drillers but not all. I'd really like to see white candles across the board. Needless to say, today's actions are insufficient to impact the Stochastics enough yet for the bottom crossover. Two more days like today maybe we will. Also, tomorrow is Friday and option expiration, who knows?? An encouraging sign is the bull and bear fight. In past sessions, there was not even a fight, we consistently got KO by 11am. A discouraging sign is nothing happened after the oil meeting in the afternoon. The big funds are not buying en mass yet, this I'm sure.

To: SJS who wrote (3390)	11/20/1997 5:11:00 PM
From: David Spruiell	Read Replies (1) \| Respond to of 95453

I will tell what I know. If the close is close to the daily high, the trend is to continue higher the next day. If closes near the daily low, there is a correlation with, continuing lower the next day. There are exceptions , as when the price reaches the top or the base of the curve. Sometimes reliable indications to buy or sell when in the upper 20% or lower 20% of the Stochastics curve. The middle 60% is not reliable. stocksmart.com StockSmart.com has a lot of info. that you might find interesting. Best Luck David EDIT: Thean thanks for the note on MDCO