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To: Thean who wrote (1638)8/7/1998 11:54:00 AM
From: bw  Read Replies (1) | Respond to of 14427
 
Check Bloomberg for negative demand estimates for oil released today; Oil chart looks really bad. This little mini-rally must be comprised of short covering and bargain hunters, not the heavy fund buying-in yet. We'll see. The OS never fails to amaze. <g>
As for shorts, I've got my eyes back on FMO. It's way up today, and I might take another position around $60. I have to keep the balance sheet fairly clean on my trades so as to be prepared for the Geocities IPO next week. Don't want too many outstanding transactions going through the account.



To: Thean who wrote (1638)8/7/1998 12:03:00 PM
From: bw  Respond to of 14427
 
Thean...The only way that I would play the drillers today is short, and again I just don't have the gumption at the junction. As we know, they only go up so much in one day, and that has definitely been achieved. Maybe the 'ol "Slider Sell Signal" on Wednesday could have signaled the bottom for the OSX however..<ggg>


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