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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Jon Cave who wrote (15883)	7/18/2002 1:02:49 PM
From: SliderOnTheBlack	Respond to of 36161

["Slider, where is the bottom in Elpaso (EP)?"] ...don't know - but, it's apparently a bit lower than where I thought it was (vbg). - I think there's some excellent value here and the sentiment is terrible toward the sector and we're getting some California Energy Trading Inquiry over-reactions. Tech not looking anywhere near a bottom yet - IBM, Seibel Systems & INTC all paint a gloomy look forward. Interesting piece on CNBC last night on the hit that individual companies will take when/if they must expense options... MOT would take a 500% hit to earnings ! - yes; Five-HUNDRED%...Cisco would take like 60%-some percent etc. My LUV reported nice earnings - I've given them 50% to my little airline "basket" - as they may be the only damn airline left in a few years and they'll own the Skies ~ (vbg). Nibbled on drugs... hoping for a nice little trading pop/summer rally over the next 4-6 weeks... and then will be out and looking to get short again for what I think will be a bloody Q3/Black October....and another significant down leg in the broad market to new lows. If HUI 120 holds here... we'll have had 3/4 bounces off of 120 support over about an 8 week period into less than supportive fundamentals... that is the same type of base & support that the HUI built in Feb & March before lifting off for another leg up... I think we run from 120 to 165ish (maybe 175) on the next rally leg thru year end. PS: I think we get to re-load on the OSX stocks in Oct-Nov as well... sub OSX 72.