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To: SJS who wrote (392)	5/21/1998 10:48:00 PM
From: Broken_Clock	Respond to of 14427

Steve, looking at MDCO daily chart iqc.com you will see a volume spike two days ago. Typically these happen on major trend reversal but MDCO fooled ya. Oil kicked butt yesterday when the July contract blew down thru supports. MDCO is moving into semis so it could be the last time you'll see these prices. I expect OPEC is gonna play for keeps in June.

To: SJS who wrote (392)	5/21/1998 10:52:00 PM
From: Thean	Read Replies (2) \| Respond to of 14427

Steve, your BB read on MDCO is wrong. The lower BB has never been violated, what we see is the surfing lower wave phenomenon. How to tell if MDCO has done surfing? Well, if a sharp reversal happens then that would be it. But if there is no sharp reversal then a detachment from the lower BB will be the first good sign. From this chart I think $17 would be a strong support and the long stochastics is below the 20% line. That typically means the dead cat is going to bounce pretty soon. 207.95.154.130 Would you mind discussing what are your write call options for MDCO now that you have taken the first leg. I seriously doubt MDCO will go back to $25 in the next up move unless oil is surging to at least $17. Another savior is the acquisition rumor starts again. The current oil glut is a big problem and I'm not sure if new cut in OPEC can empty out those overfilled storage anytime soon. NA demand is healthy but Asian demand is dropping still! I am tending towards a W rather than a U.