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To: Braddock Bull who wrote (60189)	2/11/2000 5:36:00 PM
From: monu	Respond to of 95453

Looks like Saudi Arabia and US are in a slight disagreement. Friday February 11, 4:23 pm Eastern Time Richardson criticizes Saudi cuts in oil to U.S. WASHINGTON, Feb 11 (Reuters) - U.S. Energy Secretary Bill Richardson criticized Saudi Arabia's decision to reduce its crude oil deliveries to the United States by 25 percent in March, saying on Friday that it was a move in the wrong direction. ``First, from a volume standpoint, this is not a major change from what the Saudis have been delivering,' Richardson said in a statement. ``Having said that, this action by the Saudis represents a firm step in the wrong direction.' This is the strongest language Richardson has used in public so far to criticize Saudi Arabia -- the most influential member of the Organization of Petroleum Exporting Countries (OPEC). His remarks come amid pressure from Congress for the Clinton administration to get tougher with OPEC and its policy of lower oil output. ``The U.S. market needs more (oil) supply, not less,' Richardson said. ``I urge -- in the strongest terms -- that all oil producing nations recognize that the world needs more oil, not less, and needs it sooner rather than later,' he added. Richardson said the European Union also agreed that world oil production should be increased, and he pointed out that Mexico's energy minister Luis Tellez ``recognizes that there is a legitimate concern in the U.S. that high (oil) prices affect economic growth'. Richardson is scheduled to travel to Mexico next week to discuss volatility in the oil market. He will then begin a trip to the Middle East, where he will stop in Saudi Arabia and Kuwait to hold similar discussions. His planned trip next week to meet Venezuela's oil minister Ali Rodriguez has been cancelled, an Energy Department official said. The official did not provide any reason for the cancellation, or whether Richardson's visit would be rescheduled. P.S Been buying Hal all the way down. Can't understand price action either.

To: Braddock Bull who wrote (60189)	2/11/2000 9:09:00 PM
From: Roebear	Respond to of 95453

Braddock Bull, HAL at 34 is tempting as are so many in the patch. The price action in the OSX and EP sectors when there should have been some rotation dollars coming our way was one thing that has made me cautious. Could be the big money is not liking the looks of things and is being cautious also. I noticed some strength in some defensive stocks today that I have not seem lately in other sell off days. Mostly its (my) chart target of 10K for the DOW that is spooking me as it may be penetrated. While that is certainly not of Black Monday proportions, I do not like thinking what may happen when all that margin money hits the wall just south of 10K? Today gave me the chance to go to mostly cash without hurting the portfolio at all, thanks mostly to recent gold investments. Under the circumstances I consider that the best of both worlds especially as I am able to watch with itchy trigger finger if my little "weather forecast" goes right or wrong. Another tip off perhaps. I was watching the index put options during the selloff and was noticing they were poorly subscribed. The DOW and OEX were dropping and for example the 730 and 740 puts were not moving and very little volume. I was a day late and a nickel short as just when I was getting set for a put buy some volume came in. Missed a nice 50% move. From what few optons I was watching, call volume was considerably higher than put volume most of the day and especially by late in the day. Smart money or not? We find out next week. BTW, anyone with better info on put/calls chime in. Best of luck, Roebear