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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 (13633)	3/4/1998 7:38:00 PM
From: Thean	Read Replies (3) \| Respond to of 95453

I know it is tough to stand firm in this crazy market when things are day-to-day. However, there are still plenty of reasons to put forth a case of continuing rise of the drillers in near terms: 1. OSX remains above 108. 2. Candles may be red, but today's high-low is clearly above yesterday's high-low across the board. The 5-day old upper BB surfing streak is not broken yet. 3. We have 5 days in a roll of oil-OSX inverse correlation. Oil up and OSX down today. 4. EVI may be paying too much for WII, but that ain't going to stop the merger speculation. MDCO is a good candidate. 5. The mo-money that came in late yesterday got out today. We are back to the pre mo-money stage. What signs I look for to say this up trend has ended: 1. We open lower tomorrow due to downgrades. After 1-2 hours nobody was able to turn the downtrend. Then near close they dive. Placing stops below yesterday's low can be a strategy to guard against this. 2. Oil sanks $0.50 or more, OPEC cancels meeting. 3. The overall market tanks with the drillers taking equal or even more hit than the general market. 4. OSX unable to move pass 108 after it dips below it.