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Parker Drilling Co. Message Board

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


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

    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.

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    • Oxy, six times could be interpreted as a bearish
      sign (more than twice ave. volume), while contrarians
      would interpret it as a bullish sign (more shares to
      cover), 4% of the shares shorted where covered that month
      that could be a positive trend.
      Intertech, shorts covered 82% of their shares from April to
      May, more positive now (very few shares short)less
      than a third the normal average volume of 36,500,
      caution read news, to try to make sence of what the raw
      data is trying to tell us.

    • Thank you for your insight but I have another
      question perhaps you might clarify and what it might
      possibly be implying. I will use the following as

      May 14 ** April 15 ** %Chg ** ADV
      Petroleum - 6,273,115..6,550,023.. -4..

      Commercial Intertech Cp - 12,030 .. 66,548.. -82..

      In example one OccPet short interest is
      approximately six times that of average daily volume. What are
      the technical implications of this ratio?

      the second example short interest is approximately
      one-fourth of average daily volume. What are the technical
      implications of this situation?

      Insight would be
      appreciated manboking or anyone else who understands this.

    • HLX will not be purchased by PKD, because PKD has too much debt.

    • LCBard...Thank you, your figures show the number of shorts are less than twice the normal volume, so this proves the stock is actually not negative but rather Neutral at this point in time.

    • Them Navy boys wus draggin' around a couple thousand pounds of landin' gear...Makes a difference.

    • Im still up.
      You got the number

    • Anybody got any opinions on extended trading
      hours? Looks like
      Nasdaq is strongly considering it,
      which will force NYSE to go along. I could care less,
      in most ways, but at same time am finding it
      interesting proposition. I'm going to bed!!! T34 B

    • Couldn't make it to bed yet, after reading your
      last about the
      Sunday Social in Evergreen. I hate
      to admit it, but years ago that Blue Suit Fraternity
      used to have some "pretty good sticks"
      hanging out
      in that Ft. Walton, Panama City country. Have
      tell (Never saw it myself, mind you) some of those old
      Navy boys
      were glad to get shed of those Bus
      Driver's after a "friendly little bounce". Just getting
      your "nose on" those guys was like
      stuffing butter
      up a wildcat's ass with a hot awl. T34 B

    • Never made it down south to the Saigon area. My
      brother was stationed at Phan Rang and I got a chance to
      visit him. A Philippino Band was playing in the club,
      and shut down for the night. About the time they got
      off the stage, a "spook" unit from
      82nd AB came
      in, insisting the band strike up again. These
      had never checked their arms, in fact still had
      grenades hanging
      off. Let me tell you friend, the
      Phillipinos lit a shuck for the
      stage and commenced to
      blow and strum. At 3 am, the AP's escorted
      the band
      out, and they told me the next day that a good time
      had by all.

      I never used the Nicorette (sp)
      gum. Have been using the Wrigley's Double Mint. Gives
      me plenty of lock jaw without a high. Believe it or
      not, I understand about the beef deal also. I
      eat a lot of it, but stay mainly with the tough cuts
      are lean. (Round in particular) Broiled, it's
      still pretty good.
      I eat grass fed beef. It's
      naturally lean, but has a taste all it's own. The wife
      won't touch it.

      Steve, you must have got into NE
      about the same time I did. It and PKD are a whatsome
      right now. Man it's almost 2AM my time. I
      dozed off,
      dreaming about Mefag. Woke up in a cold sweat, to check &
      make sure the little shit is still alive! I've gotten
      E-mails tonite, from people trying to figure out a way to
      get next to this little feller. My luck, anything bad
      happens to this
      jerk, the Federales will be on my door
      step.Better yet, Mefag, just get back in the closet. T34 B

    • Which occures on the third weekend in October in
      Evergreen AL. Be There or be Square, (Southern for You are
      Invited), bein' since this event has some modicum of
      respectibility. This shindig it is known as the EAA SERFI flyin.
      I B a sponsor of considerable responsibility
      regardin' this party (Gawd Help Them All... Im' in charge
      Portapotty Maintenance}.

      Air Farce types are not
      only tolerated, but enjoyed. Crowd ovem' comes up from
      Ft Walton FL every year. Your schanigans sounds like
      some of the fuckups we pulled on the runway in golf
      carts about midnight last year after we outta' have
      closed the bar.

      Basicly our little party is what
      Lakeland was 10 or 12 years ago and Oskosh was 25 years


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