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

To: gregor who wrote (32324)	12/1/1998 1:34:00 PM
From: Les H	Respond to of 95453

If one looks at the moving average channels using the 28-day moving average as the trend, the oil services stocks are basically in a horizontal pattern between 45.5 and 73.5 for the OSX index. It is now very close to the bottom of that channel. If it can hold in the 45 area and turn it up for the majority of the stocks in the group, then another trade may be in the offing. Percentage of stocks above their respective moving average for the oil service industry group OSX 10-day MA 21-day MA 50-day MA 200-day MA 09/01 47.5 0% 0% 0% 0% 09/16 66.5 91% 77% 24% 0% 10/08 45.5 3% 0% 3% 0% 11/09 73.4 59% 94% 85% 15% 11/30 49.7 6% 3% 21% 0% Usually, the percentage of stocks above the 21-day moving average will top out around 80% in short-term trading ranges as now. And usually, the percentage of stocks above the shorter-term averages will peak or trough before the percentages for the longer-term averages.