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

To: Thean who wrote (6428)	1/1/1998 5:37:00 PM
From: stevedhu	Respond to of 95453

Thean Thanks as always, Happy New year and I'll TRY. Steve

To: Thean who wrote (6428)	1/1/1998 5:41:00 PM
From: username	Read Replies (1) \| Respond to of 95453

Hello Thean, I'm new on this thread so I'm still getting comfortable. "Pure" technical analysis, as I'm sure you know, does not consider fundamentals at all, hence there is no "good" or "bad" time to consider it. DeMark has written a couple of good books that have been very useful to me. I'm not a pure technical analyst. I was looking for someone I could discuss a couple of ideas with. I own NE. Technically, aside from DeMark's ideas, I follow ADX, MACD, RSI and stochastics. I use TA principally for entry and exit points. Thanks for the response! I believe your comments to be astute. Perhaps I can make some small contribution to the dialog here. pete

To: Thean who wrote (6428)	1/1/1998 7:43:00 PM
From: Richard Kerns	Read Replies (1) \| Respond to of 95453

Thean, do you think the fact that FLC and RB will trade tomorrow as one, changes the TA view on FLC since it technically is not the same company that traded yesterday? RK

To: Thean who wrote (6428)	1/1/1998 9:08:00 PM
From: Broken_Clock	Respond to of 95453

Thean, Looking at a five minute candle pattern for SLB on 12/31 is disheartening to me for the short term. I am hoping for something mixed on 1/2/98(98!) at the least, although your option 1 would be preferable<g>. NE had the good last minute buying(some others too. I think P Engr has been extremely accurate in his relayed postings(wish I had taken him more seriously in Nov).I am cautous untill next week sorts things out a little. These overall dips and dives in the DOW have a side effect on the OSX, whether deserved or not! I will be selling out my options into strength tomorrow. I have learned it is much easier to buy back into a rising market than to hope the drop will reverse! SLB really tried hard to break the downtrend line and collapsed in the mid afternoon to the bears.Leaves a bad odor for me on Wednesdays action. PS: anyone who knows P Engr....send him an invite! We'd have one heckuva thread going with Mike, Thean, ALL the rest(and there is a bunch!) and the P Engr would be a cherry on our cake for 98! Dave

To: Thean who wrote (6428)	1/1/1998 9:14:00 PM
From: JGreg	Read Replies (1) \| Respond to of 95453

Thean- How much would you let GW run before reeling it in? Is 6 a possibility?

To: Thean who wrote (6428)	1/1/1998 10:36:00 PM
From: Jeffrey Beckman	Respond to of 95453

Thean, You're right, IRQ stochastic charts and the numerical printouts from "Second Opinion" give different indications. I've tried to generate these with Telechart 2000 to get some idea what settings are used, can more or less reproduce things for IRQ, but haven't come close for S.O. Using short term settings for the moving averages (3 and 5 days) gives curves intermediate between the two, around 70% for the frontrunners down to 30% for laggards. Telechart requires one enter a "period" in addition to the two M.A.'s. which can change things a bit, but a value reproducing S.O. still eludes me. Anyway, here are some numbers; first IRQ's approx. level, then the slow and fast numbers from S.O. In the past, IRQ has worked better, the exception being the last peak. CDG IRQ (30) S.O. (76, 98) DO IRQ (33) S.O. (80, 83) ESV IRQ (30) S.O. (86, 93) FLC IRQ (45) S.O. (86, 88) GW IRQ (20) S.O. (74, 77) KEG IRQ (22) S.O. (89, 92) MDCO IRQ (30) S.O. (79, 83) NE IRQ (38) S.O. (93, 95) PTEN IRQ (30) S.O. (82, 86) RIG IRQ (40) S.O. (91, 93) UTI IRQ (27) S.O. (94, 94) I noticed that of the stocks P.Eng dissed (g), PTEN, (despite its' prominent day on Tues.) is really in the middle of the pack as far as stochastics. GW seems relatively low and CDG is mixed. The problem I have with P.Eng. is that he is known for his FA analysis, but throws in TA without distinguishing which is being discussed. Is GW "ahead" on the basis of TA or PE. Why CDG at a PE of 11? Oh well, maybe some criticism will bring him onto the board. Good luck, Jeff

To: Thean who wrote (6428)	1/1/1998 11:05:00 PM
From: Tulvio Durand	Respond to of 95453

Anyone know how oil spot price relates to oil drillers' market? From what I read oil drilling and spot oil prices are unrelated. Rather oil drilling is correlated to oil futures out two years or longer. Can someone elucidate us on the relationship? Also can someone suggest an oil futures index or other oil futures (perhaps LEAPS) option symbol that we can look at and see the correlation with oil-drillers market? Thanks. Tulvio