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To: SJS who wrote (15960)	3/22/1998 9:05:00 PM
From: Lucretius	Respond to of 95453

I agree, like I've been saying I orignially thought we'd be in a trading range for another couple of months before we broke out, but w/ these price supports we should be heading up, not a parabolic rise mind you, but a slow steady, w/ bumps along the way, rise like we saw in the uptrend last yr. I don't tink this is the time to rush out and buy calls (I buy them too every now and then) because w/ this news the premiums will be significant. However a purchase of shares should be fairly close to the bottom of this cycle and provide a nice profit over the coming months, but they won't make you rich by Fril. Don't misunderstand my optimism. I am excited becasue I'm a L-T player and see this for what I belive it is an intermediate turning point. I do believe this is the turnaround, but we will not see new highs till this summer in most cases. Some may be much, much later. additionally, as fopr OPEC not honoring this agreement, that's oil bears trying to rationalize and downplay the ass whooping that they are going to receive tomorrow. OPEC understands that they can't jerk the mkt around or they will lose all credibility. See my OPEC saving face post. -Lucretius