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


To: JHR who wrote (10488)2/3/1998 10:11:00 PM
From: Jorj X Mckie  Read Replies (1) | Respond to of 95453
 
Hello JHR, ***PnF TA Alert***
I know you asked Jan, mind if I jump in? I'm sure Jan will correct me if I lead you astray....

You're right, those are ugly charts.

PGO - Just broke a double bottom and at the same time broke through it's bullish support. These would both be considered PnF sell signals.

GW - Trading below bearish resistance and pretty close to breaking a double bottom. Not a PnF sell signal yet, but certainly not a buy signal either.
Tom



To: JHR who wrote (10488)2/4/1998 12:03:00 AM
From: Ms. X  Respond to of 95453
 
Hi JHR,
I concur with Tom on PGO. Breaking the bullish support line is usually an ominous sign. Take this as a sell signal and watch for a bounce to exit comfortably or now depending on your plan.
GW you can give a little room. RS is positive and on a buy signal. Let your stop be 3.25. I offer this because the RS is strong meaning it should perform better than the market.
Oil services are gaining strength. Hold tight.

Jan



To: JHR who wrote (10488)2/4/1998 9:42:00 AM
From: Ms. X  Read Replies (1) | Respond to of 95453
 
Hi JHR,
I should have put a disclaimer at the end of my post regarding PGO etc.
I can not give you direct investment advice and try to limit my responses to analysis only. I was using language often used in P&F like "wait for a bounce to exit" etc.
As always you need to make your own decisions. I assume when you bought the stock you had a plan. General rule, decide what you are going to do when a stock goes right and what you are going to do when a stock goes wrong. Stick to your plan.
As always check the fundamentals and finally, make your own decisions regarding your trades.

I'll continue to help with analysis and point and figure questions

Best of luck,

Jan