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To: Lucretius who wrote (1011)	7/9/1998 12:17:00 AM
From: Broken_Clock	Read Replies (1) \| Respond to of 14427

LT...did ya like that Kaplan post? S&P at 5.9 pe! I think that's a little south of DOW 5,000... Her's a little spec play for Stevo on SESI in the oil patch. Buy at 5 1/16 on margin(5 should be the floor since the shorts can't get under there unless they are already on board, only bummer would be if SESI missed badly this quarter which i view as unlikely). Sell Nov 5 calls at 1 1/16. You have protection down to 4. If called in Nov(highly likely!) your return is about 40% for 4 months. Downside risk is owning SESI at $4 in Nov. on margin. Don't buy on margin and the yield is still 21% for 4 months. SESI has easily beat earnings for the past 4 quarters and is NOT a driller. it does workovers, etc. Currently trading at a pe of 10 for this year, sales of $2.70, BV is $3.20 and very little debt.