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To: SliderOnTheBlack who wrote (23831)	6/11/1998 2:06:00 PM
From: Snowshoe	Respond to of 95453

>>With the real possibility of OPEC's meeting giving us a rebound - how the hell can someone sell now ?<< Many news items have been cited on this thread indicating widespread skepticism about OPEC's ability to cut production sufficiently. The market is telling OPEC that meetings and announcements are meaningless -- the only thing that will halt the slide in oil prices is meaningful cuts. People are selling these stocks because they have lost faith in OPEC.

To: SliderOnTheBlack who wrote (23831)	6/11/1998 3:31:00 PM
From: Dragon 1	Read Replies (1) \| Respond to of 95453

Hey, Slider! What a Kamikaze guy! I love your spirit! I have burned my bridges and sunk the life-boat! Oil will come back with a vengence and so will Asia!!!

To: SliderOnTheBlack who wrote (23831)	6/11/1998 4:39:00 PM
From: Lazlo Pierce	Respond to of 95453

Slider, I've been holding on to SII from 58 down to 39. The ironic thing is I've been daytrading this sector, and was gonna take a few weeks off. So I bot some SII and thought I got a good deal by selling the June 60s @ 3 5/8 (bought the stock and sold the calls @ 58 1/4). By the time I got back, stock was down a ton, and I thought it won't go below the 52 week low of ~45. WRONG! The only good thing is I haven't avg'd down yet. Waiting for the turn around (if?) Dave

To: SliderOnTheBlack who wrote (23831)	6/11/1998 9:35:00 PM
From: Slava Chechik	Respond to of 95453

Slider, you never know where bottom is until you get there. I do not know if followed disk drive makers last year. WDC @ 40 for example was rated as buy at S & P Reports with outlook just bellow the highest. I still have that printout from 10/04/97. When I looked at it in December WDC was $20 with PE 4 or 5. Stock is 50% of from October and 2/3 off from it's high. Real tempting, right? Wrong!!! In order to calculate PE they divide last 4 quarters earnings on today's price. Forward-looking PE is misleading at best; earnings estimates are adjusted constantly. How can you predict earnings a few years in advance? Most of people who make estimates to my knowledge never run a business or worked in the field they analyze. In December 97 WDC misses again, goes to $14 (30% down from the last support, 75% down from it `s high). Then there was some hope, but WDC misses quarter again and down a to $11. And PE does not matter any more, because it is no E in equation. But a friend my holds WDC. His cost is about $30, so he could buy 3 times as much of that great stuff. Good gets better and bad get worse. Same is in OIL Sector. I traded oil CO's for more then a year and NEVER tried to pick up bottom, until recently. For the first time I have a substantial loss. May be I was just lucky before. It does not matter if I hold or sell it. Loss is there. And if trend changes I always can buy stock back. For the record, I'm still holding VRC and NE. It could be wrong but I've had more success in buying new highs then buying new lows. We do not have to heroes here, we are just getting by and trying to make a few bucks. Regards, Slava Chechik