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

To: Broken_Clock who wrote (8914)	1/20/1998 11:26:00 PM
From: Thean	Respond to of 95453

Isn't it funny how after a strong rally the next day becomes critical? Funny but true. The BB envelop is only so wide and a 10% pop in one day gives you half the move. Set stops. Think of stops as insurance. Lose those 1-2 points and get back in if the trend continues. If the trend penetrates a logical resistence level, it means the momentum is there. The followings are my rule of thumb: 1) Momentum money is behind 80% of all sustainable moves; 2) The drillers still track S&P. If Asian markets catch a cold, S&P says ah-choo and the drillers stop breathing. 3) We are almost mid-way through the earning season. What else is left? The next earning season is a long three months away. 4) Use stops. 5) Use TA but also question the timeliness of TA in view of the overall market.