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

To: Grommit who wrote (24008)	6/12/1998 5:02:00 PM
From: Lazlo Pierce	Read Replies (1) \| Respond to of 95453

<<You are all excited that the OSX had rebounded to 93.54 - please remember that a week ago it was at 103.5>> ***************************************** After a month of bleeding to death day by day by day, it is nice to see green. I got (for trading purposes) 1000 MDCO 15 1/2, 1000 SII 37 7/8, and 1000 FGII @ 27 1/8. I fully expect to sell these early monday morning (but hope I don't have to :-)) I own some SII @ 55 5/8! from a month ago!, so I may hold onto some SII to vg down, but we will see this volatility for awhile, and most likely these prices (OSX @ 89) will be revisited (IMHO) Dave

To: Grommit who wrote (24008)	6/13/1998 12:29:00 AM
From: Karim Allana	Respond to of 95453

Grommit, I agree, all our troubles are not yet over yet. OSX held support at 90, this is a good sign. Candlestick today was Bullish Harami Pattern and a Hammer, on decent volume. Chances are OSX is going to bounce Monday and hit mid bollinger band at 98 before reversing downward again. Omni had a Morning star pattern and GLBL had a shooting star pattern, both confirmation of reversal pattens from yesterday's Doji and Hammer. RIG was a bullish harami, FGII a hammer on high volume, Monday will likely be up for them. The reversal trend is being led by some of the stocks with stronger Technicals. Clearly, GLBL, OMNI, RIG, DO (deep drillers, rig manufacturers) and other stocks less likely to be effected by short term depression in oil stocks are leading the market trend. Simply put, the shorts are covering. Option expiration is approaching next week, Put's are cashing in. I expect a shot term bounce to mid Bollinger band and then downtrend again and OSX to move lower than 90, or re-test 90 by next Friday. In other words, we may be seeing a dead cat bounce. IMHO, these stocks won't get a real bounce untill crude prices show real signs of recovery. Karim