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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Ditchdigger who wrote (7986)	8/22/1998 11:53:00 PM
From: Sergio H	Respond to of 29382

DD, ESV is a well run company, but the oil sector has not demonstrated any reason to anticipate a turnaround. ESV is currently just below its 25 day moving avg. and may be attracting some bottom fishers. Take a look at Chris' post on his thread as to his anticipated trading strategy for the next week Message 5564000 Also interesting, and posted on the same thread: princetoneconomics.com The latter site predicts further downside in the market in Sept: "For now, we remain bearish as we look ahead to the weeks of August 17th and September 7th/14th as the next key targets for turning points ahead. The most concerning factor that we must consider is that there has been no significant rally whatsoever since the July 20th peak. This warns that despite the bullish outlooks that prevail, real selling is taking place and far less bottom picking has emerged. The phrase "buying opportunity" appears to be falling on closed ears. While at some point in time there will be a 7-10% recovery from an initial low, the risk of a second leg down still remains quite high by mid September." I have to agree that we won't be seeing the market reverse the present course, unless we see market leadership from key stocks representing sectors with positive outlooks. Sergio