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To: Captain James T. Kirk who wrote (48340)	7/22/1999 2:22:00 PM
From: SliderOnTheBlack	Read Replies (2) \| Respond to of 95453

..Captn - that is exactly correct IE: << The market is awaiting some news for direction >> but I see a vacumn for good news here - and that void is being filled by bad news. I sense the ''Streets'' sentiment shifting. They are spinning the news negatively - they want a retracement and a new building of support for the next leg up... Now instead of trumpeting OPEC's excellent job so far of compliance; they are talking of inevitable cheating etc. There will be a return to the focus of the fundamentals of rig counts, dayrates, declining backlogs etc... Some Brokers are upgrading, some are down grading - but; the key is there is no real consensus... the fundamentals simply do not support any substantial move up here imho. Crude has seen at least a temporary technical top and that is the ONLY reason we are even where we are now. Given that vacumn of good news; the void will be filled with negativity, spin doctoring etc. Also, we are late enough in the year - that many funds; will NOT allow these superior gains of late from the OSX just evaporate away. I think we could see a domino effect of the Institutions & Mututal Funds - protecting profits - selling with hair trigger quickness here on ANY continued weakness.... that sellling leads to more selling and a rush to the door to protect profits more than to really get out of the sector for longterm reasons; as such - I'm still waiting for that mini domino effect and a mid -high 60ish OSX bottom before the buyers step in with any real support here.... only time will tell.