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To: Broken_Clock who wrote (46836)	6/24/1999 2:04:00 AM
From: BigBull	Respond to of 95453

Papaya, I am bullish a hell on the long term fundamentals and still own lots of stock, but have gone from 95% long to 65% long and will probably start taking out some insurance on the rest depending on the price action of the next few days. Hope you're right about 19 wti. Don't have the hedge on yet and will certainly commit cash on a powerful rally, however, if 19 wti does not produce a powerful rally then we ARE in trouble, and the prudent thing would be to have at least some contingency plans drawn up. I even have a plan drawn up for "endless trading" range. <g> I'll take a look at ALL the charts tonight as there may indeed be something I have missed, however, the fact remains that API should have produced strong rallies in most OSX stocks and did not, only a very few had any thing approaching 5% gains, and many in fact closed on the downside. I do believe that these discussions of trading tactics at potential turning points are extremely fruitful as I think they challenge everyone to become better traders. The thinking on this board has helped me make a tremendous amount of money in this sector already and I personally welcome any and all opposing views - they help me stay sharp. Bull