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To: Broken_Clock who wrote (10275)	1/31/1998 3:31:00 AM
From: Czechsinthemail	Read Replies (1) \| Respond to of 95453

Dave, Thanks for the chart. One of the things I like to keep in perspective when looking at charts is that "things change". While the OSX has been trending down since last fall, the longer term trend has been up. So how you see it depends somewhat on your time frame. And while the OSX has been dropping, the PE's have been compressing, increasing the value for the buck investors can buy. Eventually, when the prices do go above the declining trendline that everyone watches, all the TA people will go nuts and the prices will accelerate to the upside. I think it will happen sooner rather than later. Baird

To: Broken_Clock who wrote (10275)	1/31/1998 1:49:00 PM
From: Daniel M. Whipple	Read Replies (1) \| Respond to of 95453

dlucas, I own TMAR . This whole downward move in price has really wreaked havoc in my portfolio. It just occurred to me this morning, that TMAR's attempt to play down new boats coming on to market, they have created a new fear: 1) % of fleet will not be earning revenues in the future due to major renovations or retirement of older vessels (avg age 18 yrs.) 2) The companies may have paid too much for the vessels they have acquired from other firms. Your thoughts, Daniel