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

To: Thean who wrote (18229)	4/6/1998 8:59:00 PM
From: Bazmataz	Read Replies (2) \| Respond to of 95453

I agree RDC should be hit tomorrow. This news centers around the core of speculation regarding whether or not they will do well with the rigs they're building on spec. It should cast doubt on their ability to muster a good deal. It does just that in my mind. Could this ESV news be related somehow to GLMs weakness recently? Does GLMs exposure in the GOM somehow make it more vulnerable to news like this? My suspicion is that it does. Baz

To: Thean who wrote (18229)	4/6/1998 11:04:00 PM
From: RGinPG	Read Replies (2) \| Respond to of 95453

<TA> Stochastics & Bollinger Bands 1) Stochastics: An interesting thing is happening here. Many stocks in the sector are showing a familiar pattern of going straight from the overbought down to close to the oversold: Land drillers NBR, GW, PKD, BDI rgdoczzz.home.texas.net ) Large Cap Co's GLM, DO, BHI rgdoczzz.home.texas.net ) Service Co's RON, SII, EVI rgdoczzz.home.texas.net ) Boats & Fabs CKH, TDW, HMAR, TMAR, GLBL, HLX rgdoczzz.home.texas.net ) (Sea drillers ESV, DO, FLC rgdoczzz.home.texas.net ) But many other companies stock charts have refused to weaken this time around and remain stubbornly in the overbought area (NE, RIG, SDC, RDC, CDG, MDCO, PTEN, PDE, UTI, PDS, DI, HAL, MDR, CXIPY, SESI, VRC, TBI, JRM, & FGII) This is quite different than what's been happening over the last 4mths. We have some selective strength here, while in the past, everyone got hit, pretty much at the same time. A likely scenario would be some sideways to weaker action that gets the underperformers well into the overbought range, while the strong performers maintain their strength, and then a rally that takes both groups up. That's what I'm hoping for. 2. Bollinger bands. Because of the recent uptrend, many stocks have hit their lower bands without losing much in the way of pricing. This I also think is bullish, as these stocks bounce off the lower band and head for the upper band. (Am I dreaming here Thean?) Thean: Would you reconsider selling your NBR? It is very close to its previous low (March 14th) and should have some support here. It is very close to a buy signal, the buy signals have been quite accurate (it's the sell signals I'm having trouble with). Just a thought. (Besides, I just bought some on Friday, I need all the help I can get!) Diamond: I'm winning so far!