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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (7378)	3/2/1999 10:39:00 PM
From: bobby beara	Respond to of 99985

Lee, I have a Dow chart labeled Deja vu, that i sent to Shahar. I think we are in for some more downside. The market is very fragile for a shock, maybe your oil charts are whispering something. I'll post it when it gets up.

To: Lee Lichterman III who wrote (7378)	3/3/1999 12:31:00 AM
From: Challo Jeregy	Read Replies (3) \| Respond to of 99985

Lee, The oil patch has hit bottom. That doesn't mean that smaller guys can't move down a little more, and that doesn't mean that the bigger caps will take off like YHOO. But, basically, they have hit bottom and might decouple a bit from the price of oil. SLB hit a bottom at 42 and has had a P&F buy signal at 52. Has been basing in the 47-52 range for a while now. I haven't been watching the biggies (refiners, etc) like TX or CHV. But suspect that they are in similiar states. There is a perceived idea that Japan is beginning (just slightly) to turn around. I'm sure that you've heard how there are hints of people spending money again on things like cars and golf-club memberships. If I listen to some analysts, they say Japan will crash. Others say different. Can't remember names. I've been eyeing SLB now for a month. Just don't know if I want dead money for a while. But, then again, maybe it is time. Their upward movements will be subtle and may take a while. But when they move, they move fast. You might want to see the strictly drilling thread and see what Big Dog has to say. Challo