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To: 18acastra who wrote (3713)	11/24/1997 7:28:00 PM
From: Redman	Read Replies (1) \| Respond to of 95453

Its true we got slaughtered again today, but I am not so sure that the big part of todays drop wasn't the overall market conditions, all stocks lost a lot of ground today. If you look at the djia, it only fell 113 points, but my screen was blood red with techs, oils, financials and biotechs. And, I am talking about 1-4 point drops across the board. I truly believe once this goes away, we will be on our way back, and this will probably be tomorrow. red

To: 18acastra who wrote (3713)	11/24/1997 8:05:00 PM
From: Iceberg	Respond to of 95453

>Downturn in sector primarily started with Far East collpase. People worried that slowdown in PacRim economies lowers worldwide demand for oil. > piles of money are not coming out of these stocks because the charts look bad. 18acastra, IMHO, the "downturn", "collapse", or "slowdown" in the Far East/PacRim has more to do with finances than with basic needs such as oil and oil-related products. Asian financial difficulties and/or [especially] financial scandals aren't any more applicable to the U.S. oil service sector than to any of the other more vulnerable sectors. Yet the oil service sector got hit today and last Friday far more than most other sectors. See... stocksmart.com While it may be true, as you say, that "piles of money are not coming out of these stocks because the charts look bad", it seems to me that more money is coming out [or not going into] the sector than could possibly be justified by the international/fundamental concerns you mentioned. Perhaps the argument isn't so much a matter of fundamentals versus technicals as it is a matter of fear, greed, psychology and market manipulation by the press and the big boys. Ice