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To: Elmer who wrote (25380)	7/9/1998 1:33:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Elmer; re: VSEIF... What source did you get the press release from. Can you please post a link. Overall, I really like the seismic sector; I'm long - buying recently on dips - SEI,EGEO,MIND,VSEIF and VTS & PGO on the buy list on any 7-10% future dips. I liked VSEIF the best long term ?!? I still say this is a pure value at sub $4, $3 is a gift and I'm sick I couldn't get filled at $2 ! I searched my brokers news services, yahoo etc. and saw no news ? They have analyst estimates at .71 cents for FY 1998 - take out .15 cents (.13 estimate this qtr/say a .02 cent loss ) and this leaves .56 cents for FY 1998 = a PE of 5/6 ! 1999 analyst estimates are for $1.05; even halving this = .53 cents - if it reaches a sector PE average of 15 = $8 per share ! Their equipment and/or Boone alone is worth $2-3... What an overreaction - $1 7/8 to $4 5/8 in a few hours this a.m. after going to $5 yesterday in a 15% drop....a ridiculous reaction ....emotion is ruling this sector not logic; as Big Dog alluded to - this market is sooo nervous; FGII up $2 on a whiff of positive news then down $2 over the next few days...$25-$27 back and forth ...wish I was a day trader - lots of $1 pops back and forth; I think the big guys are shorting into earnings and will cover just prior to the releases; buying the hell out of the sector after they got the bar lowered in downward analyst earnings revisions. There will be overall good releases IMHO; these companies know their numbers and the analysts did not pull these numbers out of the air. This is not the ''dark force'' but the large hedge funds,traders & institutions and market makers can play with this sector so easily; our only defense is to keep buying into dips. I averaged down at 10 - 15% intervals on my core stocks like EVI, CDG, FGII & FLC. But I'm about done... I can not believe these damn shorts -- with any surprise Oil news - they're dead ? Maybe they don't ''get surprised''.... maybe they allways ''know first'' like on VSEIF today. O/T ...Wallace; nothing on HMAR, but boats not looking good. Sold TDW long ago.. I'm holding HLX for their fab business, but HMAR has high debt and will hurt if things do not change quick. On my ''ready to sell'' list - considering selling off a few laggards for DO, or any big declines in FGII or EVI. I'm pretty much done averaging down. Now it's a waiting game. I'll save a few bucks for some small cap plays - like VSEIF.