As of October 2001, the above stock in the
Oil Well Services industry was the only one still performing well. Most of the
stocks in this industry did perform well during the oil price increases in 2000.
But not all Oil Well Service Stocks performed well during that period of
time.
As you can see from the above chart there
are two buy signals and one sell signal. The Mid-term Indicant signaled
"buy" on October 16, 1998 at $13.39. On March 31, 2000 it signaled sell
at $17.89 for a 33% gain. Then on June 30, 2000, the Mid-term Indicant
signaled "buy" at $18.36. As of October 19, 2001, this stock is at
$37.30 or up by 103%. It appears to be nearing a sell signal. To continue
monitoring this stock you must become a member of Indicant.Net
One may ask, why sell the stock at $17.89
and then buy a few months later at $18.36? The price and other indicators
fell below the red line. The Mid-term Indicant sells on that condition and does
not second guess itself. When that same condition occurred on Cisco Systems
in late 2000, the
stock ultimately fell by more than 80%.
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