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To: NucTrader who wrote (235)5/12/1998 6:29:00 PM
From: Lucretius  Respond to of 14427
 
down/ trading range



To: NucTrader who wrote (235)5/12/1998 9:05:00 PM
From: Thean  Read Replies (1) | Respond to of 14427
 
Nuc,
I would like to think OSX can hold the current uptrend - being on the right end of the \_/. Look at this chart:

207.95.154.130

If we draw a support trendline connecting today's close and mid-March's pivot low, we should see the support line clearly. On top of that, the lower BB also appears to converge on 114. Ron's stochastics also indicates near term oversold. Therefore, I'm willing to place a bet on tomorrow action: they will go lower than today intraday but close on a positive note, meaning higher than today's close. But of course this is just chart reading. If something bad happens all rules are broken and OSX can go down to pound out a W the next few months instead of a U. I would stay away from the land still and concentrate on deepwater, then shallow water. UTI is the exception to the land play because it is on the mo-mo channel now.