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To: Broken_Clock who wrote (8972)	6/15/1999 9:52:00 PM
From: SJS	Read Replies (1) \| Respond to of 14427

PK, Seeing GLM over 16 and CAM over 40 is soooooo welcome, and at a level I haven't seen in over a year. I am not playing with my oils stocks or making investments in new ones as I am focussing on trading semi/telecom stuff. However......I did write GLM 15 puts for June (about 3 weeks ago...), and covered them today at 1/8, for safety of the profit from: 1) tonights API numbers (not so hot number, now that they're out...) 2) tomorrow's CPI 3) Thursday's HH testimony 4) Friday's triple witch Any or all could croak the stock back under 15, and me being put. That being said, I think we can use a pull back here (subjectively) and I'd write July 15 puts again for GLM. Is oil going mo-mo again? Probably, but not as exhuberant as 1997. I can't help too much with RIG, but I think Thean, Doc or Peter could guide you better. Generally, I am taking profits where reasonable. There plenty of general downside capable and some risk, as we both know. Regards, Steve

To: Broken_Clock who wrote (8972)	6/16/1999 12:09:00 AM
From: Timelord	Read Replies (1) \| Respond to of 14427

Hi Papaya, I'm in the same boat you're in - hold RIG and NE a little longer or cash in. Guess I'll have to watch the CPI and how futures trade overnight. I liked the way the "bad" API numbers were discounted last week, and also the way the OSX traded counter to crude late last week, but then we've had a nice run and may need to relax. Lots of large block trades which may continue the ride a little longer. NE has hit my target (and wiped out an old paper loss from early last year <GGG>), but I was looking for a little more from RIG. Thean, any comments? Alex