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To: Timelord who wrote (572)	6/4/1998 8:48:00 PM
From: Lucretius	Read Replies (1) \| Respond to of 14427

Yea I saw that. I shorted INTC's rally today. We'll see tomorrow how stupid or smart that was, I guess. MOT's bomb sure doesn't help. (ggg) -Lucretius

To: Timelord who wrote (572)	6/4/1998 9:05:00 PM
From: Thean	Read Replies (1) \| Respond to of 14427

Alex, the drillers look interesting at this point. I reviewed the intraday charts for them earlier and noticed that money were pouring in towards the close of the day for most of them. That is a sign that we will likely get a gap up tomorrow. Therefore I would not buy at the open tomorrow. Rather, I'd like to see how it stabilizes half hour after open to see if the mo-mo continues. With their severe correction recently, they are due for a technical rebound anyway. The hope of OPEC/non-OPEC doing something before their meeting is now real but the jury is still out as to how long before oil can really stabilize above $17.5 - $18. That price level is key to any sustained rally for oil and oil services stocks. From the way things look, with supply and demand and all, I don't see the oil glut to work itself out until the last quarter of the year if Asia does not further fall off the cliff. The oil services sector is focusing on the current declining dayrate and the influence of oil price is secondary. We all know about the thinking around the deepwater, shallow water and the land and the turnover rate of the contract, but the surest bet on earning growth right now is the fabs and possibly the tube guys. VRC and EVI are my picks. The drillers can wait. However, the way to invest in them is to trade and not buy and hold. I don't see a sustained rally resembling the 6 month rally last year anytime soon. MU - hit its midline BB at $24 today. If MU is going to sustain its current rebound, it has to move to the upper BB channel and that means it has to close above $24 tomorrow. I doubt it will happen tomorrow but we will have to see.