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To: Ron Pratt who wrote (2961)	11/14/1997 8:53:00 AM
From: Ron Pratt	Respond to of 95453

Now Maria is saying Morgan Stanley is pounding the table saying the oil sector is a buy. Ron

To: Ron Pratt who wrote (2961)	11/14/1997 9:22:00 AM
From: mph	Respond to of 95453

Ron: The same thing happened a couple two three months ago when GLM took a hit on a rumor that day rates were declining. The Talking Heads on CNBC speculated to the high heavens all morning until it was cleared up as a complete misunderstanding. As I recall, one rig had come off a contract and the co. didn't need one that size in the area, or something like that. This rumor stuff can sure be lethal....mph

To: Ron Pratt who wrote (2961)	11/14/1997 10:17:00 AM
From: SJS	Respond to of 95453

You're seeing the fear that gets generated when people sit on huge paper profits. The first sign that a storm may be coming, and people rush for the exits to protect those huge gains. It's a natural reaction. It easy to say, "I'm in it for the long run", but it's very much harder to actually execute that strategy. It takes a great amount willpower to watch this from microsecond to microsecond, and NOT get crazy wanting to sell upon the first sign of threat. Hats off to the traders who don't marry stocks, and can trade them objectively. Hats off to the holders who KNOW they will own these in 2 years. Everyone else in the middle (and I sometime live here, too), has to learn to be a trader, or investor.