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

To: The Perfect Hedge who wrote (7413)	1/9/1998 4:27:00 PM
From: Thean	Read Replies (2) \| Respond to of 95453

GD, you're right about the drillers closing outside of their lower BB. This is intraday oversold. The fact they never came back means there are external factors involved, such as the overall market tanking and and the crude's situation. Today is Friday also makes a lot of difference. We will have to see how the overall market reacts Monday. I feel comfortable scouting for bargain on Monday for trading purposes. I really don't think anyone should hold on profit for too long. The last thing one wants to do is to get stuck on new positions for a month or two, which is possible. Shorting against the box is a worthy consideration. Technically, what can I say, everything that was supposed to happen (predicted early this week) happened. Bottom here? Long Stochastics (no longer a good tool in this market) does begin to indicate way oversold. Just look back in Dec and you'll know what I'm talking about. To sum it up, WE ARE SEEING DECEMBER'S GHOSTS IN JANUARY. That is my best technical indicator for now.