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

To: john david martin who wrote (8798)	1/19/1998 10:46:00 PM
From: Thean	Respond to of 95453

GW needs to break $5 for further upside move. $5 is 17% from where it closed Friday. So I don't see it breaking through $5 tomorrow. If it gets there, mostly likely it will be on an intraday basis. On Asian market Tuesday - consolidation across the board after the sharp Monday runups. Everyone is waiting for NY to open and provide future direction. I still believe the drillers will track the S&P. Since early Dec, it has tracked S&P closely but with a negative bias. From now on, I think it will have a positive bias. It will be at least till February before we can see a decoupling. There is a strong theory or "consensus" going on that there will be another wave of sell-off after the Lunar New Year in Asia. It may happen next week prior to the New Year - many factors, chief among them is not wanting to be in the market when the markets closes for an extended period of time. Shortly after the Lunar New Year the muslim celebrates the end of Ramadan. Indonesia and Malaysia will close again during this time.