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

To: Dragon 1 who wrote (8735)	1/19/1998 10:06:00 AM
From: donald sew	Read Replies (2) \| Respond to of 95453

Xia Qui, The key is whether the DOW & NAZ holds their support. Right now I have the bigger trading range for the DOW set at 7350-7850/7900. Right now we are at the higher end of this range. If the 7550 support does not hold we could easily see 7350. If the DOW is at 7550 and the OSX is around 95, then watch the DOW and the NAZ as the keys if the market will reverse back up. Now if the dow is at 7550 and the OSX is closer to 100, then that is a strong sign that the OSX will hold 95 even if the DOW was to dump further to the 7350 range. If the 7350 range does not hold for the DOW, watch out below - we will be heading down and maybe down hard to the 6500-7000 range, then all bets are off on the OSX and the whole market, until it bottoms wherever that could be. Right now I have no indication that I should lower my trading range yet. The key is how low will the DOW get in the next pullback, and it should start its pullback quite soon. If it is not this week, then early next week, keeping in mind that we only have 4 trading days this week. Not sure if I mentioned it here already, but I just got XAL PUTS on Friday when the index was at 688. Hey the unique issue is that what will be good for the OSX (rise in Crude oil) will be bad for the XAL. Seeya