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To: Bazmataz who wrote (20026)4/22/1998 4:28:00 PM
From: Broken_Clock  Read Replies (2) | Respond to of 95453
 
It wasn't NE Baz. The sellers look for anything bad to give a reason to sell. Our clue was yesterday when all the upgrades came out. That was a warning to sell into strength today. Wish I had heeded it but unfortunately I'm always the optimist. When I saw the osx heading back up to 118 I thought we were on our way.



To: Bazmataz who wrote (20026)4/22/1998 4:30:00 PM
From: upanddown  Respond to of 95453
 
Baz, Must be this if anything:

"Day said, "Due to the weakness in oil prices we can anticipate some decline in dayrates in certain markets, most dramatically in the Gulf of Mexico. However, our continued strategy of seeking longer-term contracts mitigates, to some extent, the near volatility in the commodity markets."

Street only likes dramatic increases.

John



To: Bazmataz who wrote (20026)4/22/1998 4:34:00 PM
From: JBH  Read Replies (1) | Respond to of 95453
 
Man, that is ridiculous. ICQ 5 minute chart shows a huge block sold off after 15:00 hour and drove the price down to just under 33. Stochastics look bottomed though, fortunately.

MDCO still wants to go up! cranking

John



To: Bazmataz who wrote (20026)4/22/1998 4:42:00 PM
From: SJS  Read Replies (2) | Respond to of 95453
 
It's called "softening day rates". It put fear in the hearts of owners and would be investors....

NE mentioned this:

14:59 [NE] NOBLE SEES SOME DECLINE IN DAYRATES FROM OIL PRICE WEAKNESS.

Sell first, ask questions later. I'm writing puts when it gets close to 30....