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

To: stevedhu who wrote (8486)	1/16/1998 2:28:00 PM
From: Thean	Read Replies (2) \| Respond to of 95453

Steve, On MDCO you're right in characterizing it as balistic but it's difficult to say if this is a shorts squeeze. $17 1/4 was a level that MDCO broke but it had come back since. There are still people selling into the strength, Friday and all. It could be option related. Does MDCO has option? If we close higher today, we may have more legs left for next week. Just have to be patient. There are lots of people who want to sell into strength. We also have a strong market today. It seems to me the drillers are more correlated to the overall market these days (since 1 week ago) from the intraday chart than good earning news or other positive news. No trend turner yet, sorry. If this rally can sustain and we move closer to the upper BB, then we'll talk about a technical reversal. This is just too early to tell. A good day doesn't a reversal make. People, give P Engr some credit. I don't know him but he has been right so many times (probably 70% of the time in the last half year) that it is unfortunate people love to redicule him when he is wrong once. He did not ever call himself a guru. His followers did. To me he is a modest man who just wants to help folks out. Be polite.