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To: SJS who wrote (5619)	11/27/1998 11:01:00 AM
From: Thean	Read Replies (1) of 14427

Holiday greeting everyone. I have been following the drillers action this morning and were able to watch them tick-by-tick (per Datek's streamer). I believe what I see is a slo-mo scrambling to exit. Noticed how the deepwaters are not spared the slightest this time? Big Dog already told us about deepwater dayrate erosion and with next year e&p budgets almost all announced, the realization that deepwaters are not immuned is beginning to be "priced-in", which lead to their leading the current decline. Bought PRMS today at 14 7/8. As expected, it was primarily made up by retailed trades and people like myself pushed bottons at home. <GG> Also been eyeing TJX today. The 250,00 on the sell side at 26 1/4 is preventing a pop above I think. Plenty of small buyers. Once this large block is taken out, the upside may have some room. next resistence at $26 1/2 - 3/4.

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