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Parker Drilling Co. Message Board

  • ezgreen ezgreen May 26, 1999 12:57 PM Flag

    PKD & NYMEX

    NYMEX(Head & Shoulders formation). On my daily
    chart it appears that NYMEX has completed the head and
    is now starting to form the right
    shoulder.

    Typical Action: The H&S top formation is one of the most
    common and most reliable chart patterns. The left
    shoulder is typically formed at the end of an extensive
    advance (true for NYMEX) After prices drop from the peak
    of the left shoulder, they rally to a new high and
    then decline to near the low of the left shoulder to
    form the head part of the head and shoulders pattern.
    A final advance to a peak lower than that of head
    followed by a decline forms the right shoulder and
    completes the chart pattern. A neckline can be drawn across
    the bottom of the left shoulder, head and right
    shoulder. When the neckine is broken you receive a
    confirmation of reversal of trend. After moving lower, it is
    not uncommon for prices to pullback to the neckline
    before continuing their descent. What does all this
    mean? All I can say if the pattern behaves like that
    described above I would expect PKD to mirror the pattern. I
    am posting this ahead of time to alert those
    interested to the possible behavior of NYMEX and PKD. It may
    not come to pass but at least you won't be caught
    napping if it does happen. Stay alert, watch NYMEX and
    how PKD reacts to it. Good luck to all.
    ezgreen.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • out of 22 energy related companies i watch only pkd and gw havnt gained a thing at this time?? que pasa?
      the kid....

    • Should we buy or sell? I cant tell from your message. The technical analysis is confusing to the uninformed.

    • I see the H&S formation, but you don't think that
      this will cross above the 4 level? Reason why I ask is
      that the 200ma simple is currently at 4. May trigger
      some buying?

      This is my first time, trading
      this sector. Do the well known Moving Avg's work well
      with this sector? Like the 50,100,200?

      Thanks.

      • 1 Reply to TPSSJC
      • It is not a very clear picture of H&S of the PKD
        chart. However on the NYMEX chart it is definitely more
        defined. I personnally would use the NYMEX to
        guage/correlate the right shoulder heighth for PKD. I do not know
        of anything that would not apply to PKD or the NYMEX
        when it comes to TA, moving averages, stochastics,
        MACD, etc.. About PKD crossing 4, I don't have an
        opinion one way or another with regard to the H&S
        pattern.
        Good luck. ezgreen

    • Let's hope those missing messages you talked
      about have been edited off the board by those wonderful
      souls at Yahoo! I'll gladly let them take mine off,
      just as long as it will remove the
      likes of that
      foul mouthed trouble maker. That kind of crap is
      enough to make our founding fathers reconsider the first
      amendment. T34 B

    • Rex...why don't you tell us exactly what you
      think? <ggg> To wit:

      "...as it will remove
      the likes of that foul mouthed trouble maker. That
      kind of crap is enough to make our founding fathers
      reconsider the first amendment."

      Funny that you would
      write that. My wife and I were just discussing the
      probability of something like that coming down the pike SOON
      in light of all the school shootings/bombings and
      the "copy cat" diasters that follow. Personally, I
      have no doubt that such a step (not necessarily a
      consitutional amendment or repeal of the 1st) may be
      forthcoming. Rex, remember when we were growing up, the
      phrase, "banned in Boston." A movie being so banned was
      dead certain to be a hit in the rest of the country.
      Censorship is NOT unconstitutional IF the public welfare is
      at stake. Someone in Boston decided their "community
      standards" had relaxed much to Hollywood's dismay and the
      ratings system was invented to entice those interested in
      seeing the latest Hollywood issue. I believe Hollywood
      has pushed the string further than is tolerable and I
      also believe we will return to a fifties mentality in
      the very near future. We, as a country, may have
      already arrived there. The so-called "free speech
      liberals" are bringing it upon themselves. Same old same
      old, some people, a vast minority, just can't keep
      from messing things up for the overwhelming majority.
      Can't say I disagree if something is done. After all,
      one can't cry out, "FIRE" in a crowded theater and I
      believe what Hollywood has been spewing for the last
      several decades (getting worse moving forward to the
      present) is the equivalent.

      By the way, I saw both
      the original post that was apparently removed and
      your response. As we've discussed, I'm not posting as
      often as I used to and when an "attackee" responds, all
      it does is prompt more attacks. Regardless, thanks
      for leading the Calvery charge. Guess your post had
      to be removed even though there was absolutely
      nothing objectionable in it (except to the nutcase--who
      btw, I am certain of as far as his identity--who wrote
      the original one...btw, this is the same guy who
      erroniously accused me of revealing the identity of the
      original Khan...I didn't but wish I had been smart enough
      to figure out who he was as I might have) because it
      reflected only upon a post that was being removed for
      obscenity. The original poster attacked his nemesis on the
      American Express thread at about the same time as he
      posted his bile here. Things must be very slow in Austin
      or his medication was misplaced. Anyway the one on
      the American Express thread was removed,
      too.

      Thanks again,
      L.C.

    • Up kinda late for a simple cowhand, T34. Or up
      just in time to get the jump on them cows?


      Don't worry about the First Amendment. George W. Jr. is
      already considering changes to it according to Jim
      Hightower's lampoon on the radio this morning.

    • Even though crude oil prices have risen,
      especially in the last two months, wellhead prices that
      producers receive averaged only $14 per barrel, still below
      1997 levels. Oil industry employment remained weak,
      with a total of 55,500 U.S jobs lost since the end of
      �97. And April�s rig count averaged 125, up slightly
      from March, but still down to less than half the
      number of rigs searching for U.S. oil compared to April
      a year ago.

      above from april statistical
      report at
      www.api.org
      http://www.api.org/release.cgi?id=N001443

      50% drop in U.S. rigs in a year, that's tough

    • I am really concerned that we never hear ANY news
      from this company and it acts nothing like the other 4
      or 5 drillers I own. When they all go up, PKD stays
      the same or goes down. Has PKD cut costs? Has
      management taken a cut in pay or stock options? I have
      traded GW many times in the last 4 months, when oil
      moves GW moves. A small driller like GW has 40 million
      in cash... PKD has 18 million in cash....I know
      their debt is huge. That debt could be too much for
      them to carry.
      Help me out here! Statements like
      "hang in there" is not good enough.

    • IF_The_Truth_Be_Known IF_The_Truth_Be_Known May 27, 1999 11:43 AM Flag

      (and you know who you are)
      <Let's hope
      those missing messages you talked about have been
      edited off the board by those wonderful souls at Yahoo!
      I'll gladly let them take mine off, just as long as it
      will remove the
      likes of that foul mouthed trouble
      maker.>
      Any message that is found inflamitory, vulgar,
      assininic, or just down right spiteful can be removed from
      any thread if you put it in an e-mail request to the
      Webmaster. Unfortunatly, all responses to said message are
      removed also. I find this feature of Yahoo! one of the
      best ways to combat those moronic posters that just
      love to(paraphase) 'stir up you rednecks, coon asses,
      and okies'. We will never be able to keep this/those
      dip-$hits from posting their trash, but we can damn sure
      have it removed, and I believe if there is very many
      complaints turned in on the same poster, his privledges(i.e.
      Log-On I.D.) could/will be terminated.
      And that my
      friends, IF_THE_TRUTH_BE_KNOWN, is AZ-I-C-IT-SHUD-B!

    • It looks like PKD is headed for the $2.00 range again.

    • View More Messages
 
PKD
5.99-0.16(-2.60%)Aug 20 4:02 PMEDT

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