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To: Thean who wrote (1864)	8/17/1998 9:13:00 PM
From: bw	Read Replies (2) of 14427

Went short on BJS [in honor of Clinton] today... This earnings revision into '99 convinced me that the odds of the stock going to $15 are more likely than $20. In @$17 and set a stop-loss/cover if the $20 barrier gets broken with any significance. BJ Services Co. (BJS) 16 5/16 -11/16: Merrill Lynch lowers earnings estimates on oilfield services concern due to weak demand for oil; lowers FY98 EPS from $1.85 to $1.75 and FY99 from $1.95 to $1.45 a share..... BTW..Wish I hadn't covered IAD on Friday. Big drop today, but after reading the many factors [buyouts/rights plan/etc,,,] ..decided that they are beyond my [limited]comprehension.

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