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To: Thean who wrote (35)	5/4/1998 3:14:00 PM
From: bw	Read Replies (1) \| Respond to of 14427

Thean...This action in the drillers today reminds me of a swordfight between gladiators. Not a very sustainable looking pattern. I think that the OPEC action [talk], and especially the $12 oil comments by the Irani Oil Minister had a deleterious effect on the oils today. Seems like the positive action by OPEC has only focused and thus highlighted the problem. That of course is an oversupply that will continue to depress prices. Those investing in oils now are in a true contrarian mode; If oil prices do go much higher, it will spur inflation..and hence could precipitate a general market decline based on the higher interest rates that would result... A "take the money & run" scenario for sure...