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

To: Czechsinthemail who wrote (19021)	4/14/1998 2:48:00 PM
From: Thean	Read Replies (5) \| Respond to of 95453

We are seeing some selective buying, not en-mass buying today. It is important that all drillers close on a high note to keep the momentum going. Near term we may not find much help from oil or natural gas. However, since technically we are in many way near an inflection point it does not take much to push thing up. However, lacking some strong factor such as a sudden surge in crude price, the momentum will likely carry the drillers up 7-10% from their lows before they will stall again. The wild cards are of course some excellent earnings and daring calls by some drillers about future earning outlook. I doubt it though judging from GLM and RDC's performance today if any driller CEO wants to ra-ra their company without being sure if oil will not head back down below $15. Anyway, if we are to continue to push up tomorrow, we need to close on a high note. If the market closes now we will be OK. But there is one more hour to go. OPMRF - look out! OPMRF is surging on pretty strong volume. Could be the IBM deal coming real soon. Should be interesting to follow this one close. The resistence is $14 5/8 - 3/4. Breaking that and we will likely see $16 - $16 1/2 shortly. Keep the fingers crossed for this one. Oil down $0.39 as of last check.