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Industry Calls Archives: Oil Services - September 2000
Oil Services
Monday, September 25, 2000:  Oil services are down just under 10% since the sell signal earlier this month. Individual securities in this sector are mostly down around 15% to 20%. We currently have a buy developing on this sector, with bullish signals on 9 of 14 individual securities in the past 2 days, and 13 of 
14 in the past week. Under normal conditions, this would signal a buy in the making, but not a buy just yet. However, today, almost every one of the oil services stocks had a one day reversal on VERY heavy volume. This, in combination with the individual bullish signals, is enough to signify an immediate buy for the sector.

Thursday, September 21, 2000:  Buy on oil services developing, but not here yet. 

Wednesday, September 20, 2000:  Possible buy coming on oil services, which have come down by 10-20% since our sell signal earlier this month (no buy yet, though). 

Tuesday, September 12, 2000:  Sell. This is a little easier to call. Of the 14 oil services stocks we track, 10 of them triggered (8 strong) bearish today. Only one executable, though. We also got a weak sell on an index stock for energy stocks. This sell could trigger in anywhere from one day to two weeks. As most of these stocks have undergone fairly extensive rises in recent months, we would recommend selling on any weakness.

 

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