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To: marc chatman who wrote (27316)	8/7/1998 1:09:00 PM
From: Intel Trader	Respond to of 95453

FWIW, I sold the rally in OIL at 18 1/8 at a minor loss. The rally looks like it might be fizzling/stalled. May buy back, not sure. it

To: marc chatman who wrote (27316)	8/7/1998 1:20:00 PM
From: Rudy	Respond to of 95453

Ditto Marc. That useless "reporter" (really what does he do?) is not around today. Maybe rushed to cover his shorts???? LOL. On a more serious note, really don't you thing the last correction played a role on oil bounce? I bet you a billions of dollars are on the sidelines now waiting to be allocated. Maybe oil become trendy again. We'll see. Fundamentals need to justify the action though. If street looks far enough there may be relief: 1. Asian crises slows, recovery starts. 2. La-Nina causes a very harsh winter. 3. Iraq never gets online 100% 4. OPEC succeeds holding 75-80% of its commitments Who knows? We'll see.