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To: BigBull who wrote (88742)	3/16/2001 3:45:08 PM
From: rails99	Read Replies (1) \| Respond to of 95453

Big: Sorry if I am confused or not specific to suit. Been led to believe in years of attention to news sources: That Iraq has had difficulty in getting increase in production from oilfields, that new and old oilfields need developed and "tweaked", that cash is short for many reasons for Iraq. Also of late: Misc. news stories their pipelines shut down from low pressures/flow problems in past. On this thread: Comments about "missing oil", etc. Can not be more specific at this time, on this topic (above). Meaningful contribution to the thread is important to me. Appreciate your contribution. Best to you; Rails

To: BigBull who wrote (88742)	3/17/2001 10:29:56 AM
From: isopatch	Read Replies (1) \| Respond to of 95453

Anecdotal evidence margin use is still heavy, which implies forced liquidation from margin calls is becoming more and more of a factor as this market decline has been picking up momentum in the past week. Classic example of a major drop in the market feeding on itself as excessive portfolio leverage gets wrung out. Have seen this in past Bear Markets. And IMHO, looks like we've got quite a bit more of it to go. Here's a post supportive of that view from SI member Don Sew. Isopatch "Just had a conversation with my broker from GRUNTAL, who advised that margin calls are hitting hard right now. I asked him how many of his accounts are/play on margin and he responded about 50%, which I felt was on the high side. He feels that 35%-50% who play equities are on margin, industry wide. Always hear the buy-and-hold strategy, but thats hard to do if it is true that so many are on margin"