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To: SargeK who wrote (60382)	2/16/2000 11:46:00 AM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

OSX action off the amazing API's ??? - "warning", or pause ? This is the crux of my entire thinking about being cautious & "hitting & running" when using margin here. That 10% huge move a couple of monday's ago; was obviously major funds moving in and accumulating. Due to their voracious appetitie stocks pop when they accumulate in size; then retrace without that type of buying support. Our retraces here are not due to dumping - but, more due to lack of buying support & people selling, taking bits of profits as stocks re-trace. Also, our rallies here are at support points where Institutions will add/buy - but, they will not chase the run up - there is no momenteum money here yet. If we can not continue today, tomorrow for at least a 3%ish move up in the OSX - imo, this is a strong indicator that Institutions think we are fairly priced here and that they will be disciplined in their accumulation, refusing to chase stocks here - and it also documents the lack of "true" momenteum money yet - which again; looks to not be coming into the OSX untill OPEC meets. This truly is "deja vu - all over again." This is exactly what happened last year... hopefully we see another 6 week - "off to the races" rally;post the OPEC meeting and I think we will. Majors & Integrateds looking better than the OSX today fwiw; that also endoreses that Institutions demand value and there is no real momenteum flow yet... these are the safe bets and the value here imo. I'm sitting on what I have - margining just a bit - that being major's, integrated's or substantial retraces from here - PXD still a buy. Look at UPR's nice move off the bottom of late. ...Margined a Major ?