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Strategies & Market Trends : Point and Figure Charting -- Ignore unavailable to you. Want to Upgrade?

To: carl morgan who wrote (18774)	4/21/1999 9:04:00 PM
From: Lost1	Read Replies (1) \| Respond to of 34811

Carl, I've always been partial to MRL and it just so happens that the chart, as of today, is a thing of beauty (except for that darn RS). The timing on this one looks mucho bueno. BTW--When did the OSX go to BUll confirmed 66+? Lost1

To: carl morgan who wrote (18774)	4/21/1999 10:39:00 PM
From: Ms. X	Read Replies (1) \| Respond to of 34811

Hi Carl, I can completely understand your concerns. There is nothing wrong with preserving capital. Someone once said they lost money sitting in cash. I think it was our dear wonderful Lost1 that asked the pertinent question to that remark; "what kind of cash, rubles?" Needless to say I was on the floor rolling (this was not on the Piff thread by the way). If you do not feel comfortable you are right to stay out. But I would suggest you watch, which I suspect you are doing, so you can become more comfortable should the same or relatively same, situation present itself again. For me, I'm all over the techs and internets. But then, I'm a graduate of the school of adrenaline junkies headed by OJ and JXM...

To: carl morgan who wrote (18774)	4/21/1999 11:57:00 PM
From: Tulvio Durand	Respond to of 34811

I highly recommend Mike Simmons' newsletter to which you can subscribe for free,{mailto:mike@simmons.net}. Mike's business is as agent for resale of oil rigs and has the pulse of the oil drilling and service industry. This is what he said, in part, in his last newsletter: ...While I agree that there is virtually no possibility of new lows, we are fundamentally overvalued on a time/value basis in the drillers andservice stocks. Quite simply, the drillers and most service stocks are more than a little ahead of themselves here. OSX 85ish is a reasonable target, but we may just have to push back the time frame a quarter, or two - until we see real change in utilization, dayrates and new service/construction projects. I'm not trying to spread gloom and doom, but momentum has to always be measured against the stark reality of fundamental valuations. How many times has "holding" and not taking some profits off the table resulted in a near complete retracement, and paper loss off virtually all of a rally's gains? The answer is all 4/5 times in the last 7 months! Virtually every time! We obviously have NOT as yet had a run from OSX 45-50 to 70 that has stuck and NOT retraced back to the 50's, or less ! This one just may be the one that does stick - but for the 4th, or 5th time - I will take profits off of the table and may get my 4th, or 5th chance in 8 months to buy the sector at least 15-20% cheaper after having done so. Until the fundamentals actually change - I stand by selling into strength and playing the rolling trading ranges. *************** Tulvio