Just a quick note to let you know that
looks like before the week is out
the 50 day MAV
will be intersecting the 200 day MAV.,
again provide us with another "buy signal".
for the tip on the P. and F. charts.
Manboking......Today TDW momentum turned positive
once again, and planted another "X" in my little
Dorseywright.com point and figure chart. Resistance now at 29.00
and will be testing it, "manana", using the little
"X's and O's" charts, "kind of like football plays".
Eassy to read, worth my money.
Qatar Oil Ministry's Salatt on OPEC Production Cuts:
Doha, Qatar, May 3 (Bloomberg) -- Following are
comments by Abdullah Salatt, the Qatar oil ministry's
governor to the Organization of Petroleum Exporting
Countries, on production cuts promised in March by 14
nations to erase a global oil glut and boost prices.
Qatar agreed to slash production by 47,000 barrels a
day to 593,000 barrels a day. The Organization of
Petroleum Exporting Countries and four other nations
pledged to start cutting output on April 1 in a plan to
trim world supply by 2.1 million barrels a day, or 2.7
Qatar is the smallest oil producer within
OPEC, yet in percentage terms it has been one of the
group's biggest quota violators.
adhere to our commitments,'' Salatt said. ``We have
fully implemented our cuts since April 1.
expect compliance to be higher in May because some
producers were unable to fully implement their cuts in
April because they had prior contractual commitments. I
expect compliance to be much higher than 80 percent in
May, and for the rest of the year.
spirit of the member countries of OPEC is positive, and
the commitment is strong, so we expect to see a very
high rate of compliance,'' he said.
SunMaster...TDW now trading over the 200 day MAV,
has corrected each leg up, and
is currently in
attaining the next resistance
29.00 sometime this week.
There are no run away gaps
on the chart
indicating a solid advance,
early stages of development.
I plan to add to my
**U.S. oil drilling rigs up 6, Canada up
NEW YORK, April 30 (Reuters) - The number of
rigs exploring for oil and natural gas in the United
States rose six from last week to stand at 494 as of
April 30, and down from 876 a year ago, oil services
firm Baker Hughes Inc. said Friday.
of rigs drilling on land was unchanged at 380, while
rigs working offshore rose two to 98. The number of
rigs active in inland waters rose four to 16.
The Gulf of Mexico rig count rose two to 97.
The number of rigs searching for gas rose six to 368,
and the number of rigs searching for oil remained
There were no miscellaneous rigs,
unchanged from last week.
There were 155 rigs
exploring directionally, 32 exploring horizontally, and 307
In Canada, the number of
working rigs rose two from the previous week to 48,
compared with 114 a year ago.
The states with the
largest change in their rig count were Texas, which
gained seven and Louisiana, which gained four.
The weekly rig count reflects the number of rigs
exploring for oil and gas, not those producing oil and gas.
Srbuggs....great posting , Tax Credits are
"Earned" and not given at the candy store as you well
know, and TDW management is Smart for using them. No
different than an individual taking them on their tax
returns, TDW followed the law and took advantage of it,
thats fine money management, think will let William
O'Malley do my Income tax next year.