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

To: Thean who wrote (9177)	1/22/1998 10:37:00 AM
From: Bazmataz	Respond to of 95453

Thean: What do you think will happen to stocks which have already posted good earnings? They seem to be getting hit similarly. I suppose the downtrend continues. Some of these stocks almost broke out technically, but this confirms the downtrend.

To: Thean who wrote (9177)	1/22/1998 11:01:00 AM
From: Tulvio Durand	Read Replies (1) \| Respond to of 95453

One must balance SLB's disappointing results and projections with otherwise outstanding results reported by all other drillers that have reported and nearly universal favorable forward outlook for drillers. As is always the case the most recent news carries disproportionally larger weight, and an ounce of fresh emotion overcomes a ton of facts. A buying opportunity is being presented for the brave of heart, I believe. Tulvio

To: Thean who wrote (9177)	1/22/1998 11:30:00 AM
From: Rob Hinton	Respond to of 95453

Thean, No kidding. Couldn't figure why DO would not quote after the opening and went to my trading account to get a live quote and fell right out of my chair. Went ahead and sold my protective puts for around 100% gain since the first of the week. Stinking MM's really jack you on premiums on days like this. But...a profit is still a profit and my basis was lowered from 40 to about 35 so I figure I can ride out another downdraft. Will watch things and maybe pick up some upstrike March calls for the next leg up... Talked to a prof. trader friend of mine (used to trade the SPX/OEX pits) yesterday about the markets and he thinks the really big money is going to come in in the next 2-3 weeks and we will lift off till June. He is expecting the bear to strike hard second half of this year. So maybe we all ought to put our heads together and develop a trading plan for 1998. There is more talent on this thread's collective little finger than all the talking heads on the planet. Rob

To: Thean who wrote (9177)	1/23/1998 12:56:00 AM
From: Dwight E. Karlsen	Respond to of 95453

Thean, just came to the post I'm responding to, so pardon me for pointing out the previous peaks, and what happened after. I realize that most here are fundamental bulls. I've also read criticism of TA (not necessarilly from you). Here's my view on T/A: I've never once opened any book on TA. I have looked at a few web pages on Japanese candlestick charting. I don't personally understand the math behind bollinger bands, stochastics, etc.....it's all very mysterious, but the jist of TA is simply to attempt to point possible future directions and boundaries of directions to which the stock may go, based on historical trading activity. Attempting to learn from history seems like a very basic and fundamentally sound thing to do. Therefore I have attempted to study and observe how stocks react to various TA indicators, even though I don't understand the mathmatical formulas and different settings for stochastics etc. And hey -- IMO, if something can help me make money, I'm for it! -g- And TA helped me to decide to buy puts Wed. I've also read criticism of people who post on the day or even day after a decline, stating the obvious, and this is a valid criticism. Personally, I've found that posting my trades real-time on a pure stock thread usually gets me too emotionally involved -- because I've placed my ego at stake. Also, it is true that many more people are long in their positions rather than short. Therefore, to post an opinion of a strong historical possibility of an iminent price decline usually just attracts criticism from people with long positions. DK