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

To: The Perfect Hedge who wrote (11196)	2/10/1998 7:36:00 AM
From: donald sew	Read Replies (1) \| Respond to of 95453

Hi Glen, The short-term technicals for the OSX now are right in the middle, which normally means that it can go either way. When in the middle, news, market move, outside issues, with have stronger influence on the direction of the OSX. For example, if the technical for the OSX were very low, in CLASS BUY territory and bad news comes out, the OSX should still move down but only slightly. Now if the technicals were in the mid-range, that same news will have a greater effect. CNBC had a nice positive piece on the the OIL and OIL DRILLERS/SERVICE sectors, indicating its oversold position, and gave the impression that this is a value sector to invest in. Whether that is enough to move it today upwards, it will help it from dropping too much. The overall market started showing weakness over the last few days so a pullback should begin soon. Nothing huge, but should be enough to bring the DOW back to the 7900-8000 range. The average drop in the DOW during the strong runup during the summer was around 150-300 points, based on intraday figures, so such a pullback is in line. For the time being, feel that the 96-97 support area for the OSX should hold. Seeya.