Bull vs Bear (18 Sept 2007)

Bull vs Bear

Short and medium term bears continue to increase. Bulls more or less stay the same.

Oil is at record high now. What will happen to the oil and gas counters?

This are my interpretation based on weekly charts:
Alam: Long term uptrend but under correction mode now.
Deleum: Downtrend, no bottom insight.
Dialog: Long term uptrend but possibly under base building mode now.
Epic: Long term uptrend but under correction mode now.
Kencana: Long term uptrend but under correction mode now.
KNM: Up up and away. In correction mode now.
Muhibbah: Up up and away. In correction mode now.
Oilcorp: In downtrend. No bottom insight yet.
Penergy: Slowly going down.
Perisai: In uptrend. Hard to say since the bulls and the bears are actively fighting. If close above 1.50, uptrend may continue. If not, will go into correction mode. I'm holding a small position in this counter.
Petra: Long term uptrend. In correction mode.
Ramunia: In downtrend.
Ranhill: I'm putting this as O&G. In uptrend. Behavior similar to Perisai.
Sapcres: In long term uptrend but still in correction mode. May have found bottom.
Scomi: In long term uptrend but still in correction mode. May have found bottom.
Tgoffs: Slow and steady uptrend. In base building now.
UMW: I'm putting this as part of O&G. In long term uptrend but in correction mode now.
Waseong: In long term uptrend. Possibly correction is over and under base building now.

So, my conclusion, Perisai and Ranhill should offer some exciting play at the moment.