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To: Gary Burton who wrote (39214)3/8/1999 9:38:00 AM
From: Harold S.  Respond to of 95453
 
My little opinion is that it was not a hard down..it was a down that held several times at 48 with blips back up..then it broke 48 and went down to 45..but the OSX duldrums have been here for quite a while and I see no NEED to have a drop below 45 to validate a bottom has been put in.



To: Gary Burton who wrote (39214)3/8/1999 9:39:00 AM
From: Big Dog  Read Replies (1) | Respond to of 95453
 
WFT gapped up 1 1/8 on the open...SLB up 1 3/8...leaders are strong...RIG up about a buck too.

We may have a situation here of folks selling the stocks that are perceived weaker and rotating within the sector to the name brands...SLB, WFT, DO, RIG, etc.

This might be a good play going into March 23.

big
loosbrock.com



To: Gary Burton who wrote (39214)3/8/1999 9:42:00 AM
From: marc chatman  Read Replies (1) | Respond to of 95453
 
Gary, I'm looking at the spike from the 40's to the mid-70's last October, and the ensuing drop back to the 40's, as the retracement attempt and failure. My feeling has been that the only thing keeping the OSX from making new lows was the money pouring into the S&P, which kept SLB and HAL from making new lows in recent weeks. Of course, I'm not using E-wave.