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To: Thean who wrote (3202)	11/19/1997 2:32:00 PM
From: Michael Berkel	Respond to of 95453

Thean, I try to understand what's going on. Further to your post #3109 I see: 1) Gap down at the open. Good sign? I really doubt it. By noon the entire sector did not rally. FGII, RON, ESV,CDG and so many other great stocks are being dumped for no real reason. What do you make of it as a technician? I take it that we are not out of the woods at all. Is there any positive interpretation to give of today's downward spiral? According to my idea this is the bottom: FGII 30-32 CDG and RON 58-60 Hong Kong 8000. NE 30 ESV 30-32. This is were these stocks traded not so long ago. I am curious to read your take on all this today's selling. Michael Berkel

To: Thean who wrote (3202)	11/19/1997 3:05:00 PM
From: Michael Berkel	Read Replies (1) \| Respond to of 95453

I borrow this one from the AOL Oil&Gas Message Board: "a sharp nasty correction is preferable to a slow drawn-out decline. The best bargains are at the tail-end of these mini- panics" Do you agree, is this only a sharp nasty correction? I am now tempted to buy at these levels. Michael

To: Thean who wrote (3202)	11/19/1997 3:26:00 PM
From: Tom L. French	Respond to of 95453

Thean Yes, similar pattern in CDG and PTEN, Is there anything different now in your view. I'm more convinced now the hot money is moving these stocks, having just seen the Heard on the Street article. How is the Turnaround Watch? We had a gap down. I don't know if you think we had a rally but since you bought some I guess you do, but what now? It is a mix of consolidation/firming and continued sliding from what I see. There aren't really any gains to hold on to, except a little comeback in some, like MIND and PTEN. SLB continues to slide, HAL may be firming up. Quick, limited sampling. What's your take? Regards TomLF