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To: The Ox who wrote (22722)	5/22/1998 4:24:00 PM
From: upanddown	Read Replies (2) \| Respond to of 95453

Michael, Your FGII may work out faster than you think. Quite a move today, about a 10% range from down around 1 1/2 to up 11/16. It only got to within an 1/8 of my limit price so I missed it. I have a tendency to try to work the price too much. FGII under 33 was such a bargain, I should have just grabbed it. But nooooooooo.... Good luck, John

To: The Ox who wrote (22722)	5/22/1998 4:36:00 PM
From: Czechsinthemail	Read Replies (1) \| Respond to of 95453

Overall, not a bad day for the Oilpatche tribe. Crude was up a bit and this sector looked pretty good compared with the mayhem many of the tech stocks faced. Though we may have more downside to deal with particularly if crude and the overall market weaken further, I think we are getting close to a bottom (if not already sitting on it). My approach has been to buy them when they look like bargains, buy more when they look like ridiculous bargains, and then buy more when you feel you look ridiculous for buying something that has gone so far down below the bargain basement. To do that you have to keep enough powder dry to be ready for prices to drop into the nether regions of hell. But my counterbalance is to sell some on the way up. I try to do it pretty methodically so that I inevitably miss some of the upside but gradually increase my positions and lower my cost basis over time. That way the swings can be your friend even without knowing how far they will continue up or down. It also helps to have patience to allow things time to work out. Enjoy a long and great weekend, Baird

To: The Ox who wrote (22722)	5/22/1998 9:24:00 PM
From: waverider	Read Replies (2) \| Respond to of 95453

>>I will come back and repost your post and this one in a year from now when these stocks are at levels FAR ABOVE that of today, if you don't mind.<< Sure, by all means. What bothers me is that this was the same kind of thing we all said 5 months ago. You're right. My comment did sound like a short term trader. I confess. But I don't think it is illogical to wait for a basing pattern BEFORE jumping in for more. This falling knife stuff sucks. I don't like the advance/decline line. I don't like the slow death we are suffering with the pathetic volume every day. I don't like the number of new highs/lows. I don't like the major support levels of our stocks breaking down. I wish we had had our party already. I want my mommy. O.K. that feels better. Can't wait for the major rally on Tuesday! Hmmm... <H> (lookin' to buy only after we retest our old lows...or something like that)