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

To: Lucretius who wrote (14862)	3/15/1998 3:27:00 PM
From: marc chatman	Respond to of 95453

LT, I think the charts have broken down for a number of issues, but the average itself looks pretty good. From its January low of about 88, the OSX is actually beating the performance of the DJIA from its January low (albeit by a narrow margin). The OSX's trend of higher highs and higher lows is still intact. Unfortunately, several of my holdings are not keeping up with the average. And, perhaps more significantly, I did a poor job of buying in at higher levels. So I guess how the charts look depends on which chart and what perspective. As for the possibility that the OSX will perform well when the major averages break down -- perhaps. I looked at an overlay of the OSX and the DJIA (not the broadest average, of course) and it seems the OSX usually gets hit with the first wave of selling in the DOW, but it often bounces back more quickly and more forcefully. This is just from a quick eyeballing, and I didn't go back very far. Do you have something more definite to suggest that oil service stocks will become the leaders?