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To: IndioBlues who wrote (48602)	7/29/1999 10:17:00 PM
From: Ronald J. Clark	Read Replies (1) \| Respond to of 95453

Indigo, Have you looked at the semi-conductor stocks?!? MU, which has lost money 5 of the last 6 quarters and is poised to lose more than any preceding quarter in October is up 50% in the last two weeks based on speculation re: its 2001 earnings prospects! If oil and gas prices stay at current levels, what do you think OSX stocks will be earning in 2001?

To: IndioBlues who wrote (48602)	7/30/1999 11:33:00 AM
From: upanddown	Read Replies (2) \| Respond to of 95453

Look at the number of drilles and service cos. closing in on 52 highs and ask yourself "why? Indio, 52-week highs may not be the best way to look at the OSX these days. Yes the OSX and a number of issues are close to where they were at end of July 98 but they had been absolutely crushed for the preceding three months. OSX lost about 40 points in that period. As a basis of comparison, our glorious 70% rally from the spring lows around 47 has gained 33 points. Here's another basis of comparison.... Late 97 OSX peak around 140 - oil approx 19 Spring 98 OSX peak around 120 - oil approx 15 End of July 98 OSX around 80 - oil low 14's Current OSX around 80 - oil close to 21 bucks. John