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

To: otter who wrote (41155)	3/29/1999 11:45:00 AM
From: Douglas V. Fant	Read Replies (1) \| Respond to of 95453

Gang, From one trading service: SLB -- Oil & Gas-Equip. -- Basic Materials 29-Mar-99 10:53:49 Baker Hughes opened at $24 5/8 this morning and has traded in a tight range ever since. The stock last traded at $24 13/16 with a $1 gain. There appears to be a wall of sellers at $25 who are not aggressively selling but who will serve to curtail the stock's rise above that level. The oil & gas equipment companies have severely underperformed the broader markets over the past year. While we are starting to see some stirring in the sector as analysts raise expectations for higher crude oil prices, it appears that many investors remain hesitant to dive back into energy-related stocks. If the profit takers advertising to sell at $25 leave the market, which would manifest itself in a lack of new red triangles on the I-Watch chart, BHI could see higher prices. However, if the super messages to sell stock at $25 continue to come to emerge, the stock will remain below that level - watch for potential aggressiveness from these sellers later in the day. So far, the pre-trade indications on the bid-side remain light which suggests the buyers will not be able to push past this wall of sellers.