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Gold/Mining/Energy : Swift Energy (SFY) -- Ignore unavailable to you. Want to Upgrade?

To: FloydP who wrote (741)	3/22/1999 3:15:00 PM
From: PuddleGlum	Read Replies (1) \| Respond to of 1602

SFY's p&f chart: We finally got a buy signal at 9, and it's a bearish signal reversal because the previous column of O's was a sell signal. This is good, but the stock is still well below it's bearish resistance line and its relative strength is in O's. But the sector is in good position and looking better. I think we've finally shed a good deal of the "extreme oversold" condition that we were in, and I believe that we can buy on any pullback from here. $9 isn't high just because it's nearly 80% above the recent lows. I think $9 is what should be considered reasonable at this time. P&F is not a bottom-fishing art, but it is primarily used to get you in at reasonable levels after the bottom has been reached or when a stock is in a controlled uptrend. Right now I think we have a viable p&f price target of $15-16. pg