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

To: SJS who wrote (8495)	1/16/1998 2:32:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 95453

Despite our recent rally, I still think we will return to the lows as we build a base over the next two to three months. On the positive SLB climbed back above its 200 dma and tested it yesterday, and is up strongly today. However, I believe SLB will base just above its 200 dma while many others base below or around the 200 dma. (I keep pulling for NE to base above its 200 dma also, but it has yet to close up there after being there intraday 2 days in a row.) After the recent news and developements, all should be fairly comfortable w/ oil prices not collapsing. Now, we just have to wait for the mkt to operate and flush out all of the weak hands or short players before we begin marching. Those who slowly build up large positions over the next 2 months and don't look for the quick buck. IMHO, will be rewarded w/ 100% to 200% gains by yr-end in many of the drillers and service co.'s. Trend right now for the mkt is DOWN. The charts don't lie. NASDAQ looks to want to break the 1460 level and head much lower before beginning to build its base. DOW doesn't look quite as bad, but doesn't look to be going up anytime soon either. <Thean:> since I am not a tech', most of these levels were given to me from my broker's TA guy. I am more of an industry L-T type of investment guy w/ an occassional speculation. what's your opinion of the mkt's gen direction? -Lucretius