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To: Broken_Clock who wrote (457)	5/27/1998 8:36:00 PM
From: Thean	Read Replies (2) \| Respond to of 14427

Papaya, You may want to think about a short term exit strategy now that you are back into the drillers. The latest API numbers are negative, with the key gasoline inventory up 3.2 million rather than the expected consensus of down 1/2 million. The overnight crude is now off $0.13 cents. Seem to tell me the Memorial Day weekend was less than spectacular from gasoline burning standpoint. Granted, if S&P opens higher tomorrow morning (only up 1 pt now), the drillers may get a morning rally. But you know what the rest of the day can be if oil slips and people sell into strenth in the overall market. In time like this, it pays to revisit those days in Nov-Dec and think defensive and see what one can do to best preserve cash. I would rather let the OSX proves and confirms itself first before jumping in. So what if I miss 10% as long as I don't have my capital tied up. There are plenty of opportunities, in particular on the short sides that looks better. With regard to those surges late in the day, that to me look like a bunch of managers snatching up drillers because they think the time is right for a rebound. If people lose faith in the staying power of this rebound for various reasons, it will but last three days (look at those charts again in the recent past). LT - MU could not pull itself out below $25 and that is good news. However, the battle is not over yet. My scenario is this - MU breaks above $25 tomorrow a.m. but by mid-day it crawls back below it and closes below it again. Then come Friday and we will have a sharper drop below $25. Will see how it unfolds.

To: Broken_Clock who wrote (457)	5/27/1998 9:18:00 PM
From: Timelord	Respond to of 14427

An unexpected build in U.S. gasoline stocks reported by the American Petroleum Institute late on Wednesday sent prices reeling down, traders and analysts said. Reminds me of the end of one of Wiley's classic falls on Roadrunner cartoons... *{{Poof!}}* If Asia turns ugly tonight, I'll swear this is January - it's even raining outside to prove it. Alex

To: Broken_Clock who wrote (457)	5/29/1998 12:16:00 PM
From: Thean	Read Replies (2) \| Respond to of 14427

Papaya, those astro sites really have helped me lately. Remember my caution to you three days ago regarding the drillers? There are plenty of opportunities, in particular on the short sides that looks better. With regard to those surges late in the day, that to me look like a bunch of managers snatching up drillers because they think the time is right for a rebound. If people lose faith in the staying power of this rebound for various reasons, it will but last three days (look at those charts again in the recent past). Well, judging from today's action (today is day #3 by the way), the drillers may close down again. Thanks in particular to Astrochart.com for providing me this insight! SEV - looks like the $25 resistence is presenting itself today. Everyday of delay of news announcement can mean some retracement of SEV everyday until then. There should be a pop the day the news is announced but I'd get ready to pull the trigger or write call or something like that when it happens. June 4 is annual shareholder meeting day. Therefore I think the news about #6E will be announced prior to June 4. The management are asking for pay raises through generous option plan authorization. I voted no. The meeting will be held at the Houstonian Hotel. MU - is tanking again. LT - Another tech short candidate - SEG. I am focusing on it right now.