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To: Big Dog who wrote (84803)	1/20/2001 11:42:56 AM
From: isopatch	Read Replies (4) \| Respond to of 95453

"...a huge number of corporate officers dumping positions." Thx Big. For the above as well as other comments from John Herold Inc., about recent activity and decisions by management in the O&G industry. Herold, for those here not familiar with them, is a highly respected, independent research shop that's been in biz for many years. They are not a subsidiary of any of the W.S. brokerage or investment bank. And they have traditionally served a large client base of indus people. After the extensive thread discussion, last week, where Big Bull and I stressed the importance of the large increases in insider selling throughout the patch - during the past 6 months - the remarks from Herold are particularly timely in reaffirming our view that these sales ARE significant. And if anything may even be reaching new highs since mid-1999. To continue from Herold, "...our table of insider trades in the Jan. 18 Headliner, at a more than twice normal four pages". Clearly Herold & Co. considers this activity to be important or why give it prominent mention. Any one familiar with Herold over the years knows they have a continuing policy of informing subscribers of increases in insider selling when "the pattern" becomes widespread, large and increasing. Clearly their view is consistent with the few of us on this thead who also consider this information important. However as also stated during last weeks discussion: Insider selling should always be used in conjunction with other evidence when attempting to decide whether an important top may be approaching in a stock sector. There is really no substitute for the willingness to repeatedly study (over a period of years) the various kinds of evidence that can eventually develop into very valuable tools for the timing of major changes in market direction once we learn how to combine them. Isopatch