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Thanks for the input. It looks like we are in violent agreement <G>.
Does anyone else disagree?
I'm confining my watch list to small caps with maybe an occasional
over
valued large cap as a short candidate. I just ran my weekly Telescan
Prosearches, but I don't remember any energy sector stocks falling out.
I just jumped back to Telescan and did a Group Momentum search. The
results are shown below. As you can see there are several Oil and Gas
sectors listed.
Jim
INDUSTRY GROUPS WITH BIG MOMENTUM
Industry Groups
Criteria Criteria Values
__________________________________________________
GROUP RANK 60.0-99.0 r
LST-SQR DEVIATN 3-YR List Only
REL PERFORMANC 1-DY List Only
GROUP RANK CHG 1-WK High 100%
LST-SQR DEVIATN 5-YR List Only
REL PERFORMANC 3-WK List Only
GROUP RANK CHG 3-WK High 100%
LST-SQR DEVIATN 10YR List Only
REL PERFORMANC 6-WK List Only
GROUP RANK CHG 6-WK High 60%
LST-SQR DEVIATN 15YR List Only
REL PERFORMANC 1-WK List Only
GROUP RANK CHG 13-WK High 20%
LST-SQR DEVIATN MAX List Only
REL PERFORMANC 18-WK List Only
MACD HST 8/17/9 DY List Only
MACD HST 8/17/9 WK List Only
MOVING AVG 50-DY List Only
******************************
Prosearch 5.0* Top Stock Report
08/31/97
******************************
1> .BEQ - Broadcasting/Equipment widx .BEQ
2> .SOS - Steel / Iron / Other specialt .SOS
3> .DDW - Drug Wholesalers widx .DDW
4> .OCP - Oil & Gas / Crude producer TS .OCP
5> .OIL - Oil & Gas TSCN-Widx .OIL
6> .FOS - Food Serving TSCN-Widx .FOS
7> .OWD - Oil & Gas / Well supply, Dril .OWD
8> .MSP - Machinery / Specialties TSCN- .MSP
9> .FLE - Finance / Leasing TSCN-Widx .FLE
10> .FPS - Packaged / Snack widx .FPS
11> .PPE - PUBLISHING/PERIODICALS WIDX .PPE
12> .SHI - Shipping/Shipbuilding TSCN-Wi .SHI
13> .AMH - Automobiles / Motor Homes TSC .AMH
14> .ASV - Services widx .ASV
15> .TRU - Trucking TSCN-Widx .TRU
16> .FBM - Bakery/Mill/Sugar widx .FBM
17> .UIN - Utilities-Gas / Integrated TS .UIN
18> .MIU - Manufacturing/Distr. / Indust .MIU
19> .TSF - Synthetic Fibers widx .TSF
20> .ASC - Aerospace / Subsys./component .ASC
----------
> From: stocks@xxxxxxxxxx
> To: Jim Greening <JimGinVA@xxxxxxxxxxxxx>; Metastock List
<metastock-list@xxxxxxxxxxxxx>
> Subject: Re: Weekly Pick
> Date: Saturday, August 30, 1997 10:26 PM
>
> Since the major averages are above their 200 day moving averages,
> there is little doubt in my estimation that the bull is alive and
> well. The fact that the bull market is intact is confirmed by the
> high level of the McClellan summation index. Also, the Nasdaq
> market just recently set an all-time high. A change of leadership
> is taking place as the Dow (large-cap) stocks are moving sideways to down
> and the smaller cap stocks are taking the lead. This is shown clearly
> in today's issue of Investor's Business Daily chart of comparative
> relative strength. During this correction, comparative relative
> strength of market sectors should give us a clue as to which
> sectors to invest. The better performing sectors include the
> energy services sector. Also, natural gas has sprung to life.
> The fundamentals of most stocks in these 2 sectors are very good
> with peg ratios of less than one in many of the securities.
>
>
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