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To: bw who wrote (1648)	8/7/1998 4:38:00 PM
From: Thean	Read Replies (3) \| Respond to of 14427

bw, I entered my FLC short after that block trade. Yes, got filled at $17 and I'm at least ahead going into the weekend. First driller short. Maybe if I do this a few times I may even like it. Being on the opposite side this time is definitely new and exciting. Pretty good day overall. SEV surged 2 pts and I got in at the low today. That evil tower is still down and could not get up. That and INHL could not close above 30 resistence make the day all worthwhile, especially the fact that I avoided ICOS and FILE (both moved up strongly towards the end). Will live to fight another day. I even got out of some of the losing MU put position partially. PNU and CL both down and my puts now worth a little more. Hard to say which way Monday will shape up. Guess we will never know until the market opens. Have a great weekend everyone.

To: bw who wrote (1648)	8/9/1998 3:10:00 PM
From: Thean	Read Replies (1) \| Respond to of 14427

What we had on Thursday and a continuation on Friday was definitely a dead cat bounce from those stocks which have been depressed for a long time, especially the mid and small cap stocks. I look at a number of charts for selected stocks I follow and saw that quite a few of them close near their respective midline BB after being detached from the lower BB. If on Monday and Tuesday these stocks cannot break the midline BB and head back down, then the bear trend continues. However, if they manage to close above their midline BB's then we may see the continuation of a short term rally for these still depressed stocks. The large caps which have held their grounds well the past few months now are under pressure as people begin to take profit. Those big caps with exposure to Asia will continue to be under pressure, especially the consumer non-durables. SEV - it closed at midline BB. I plan to sell first thing Monday morning to protect the 17% profit in one day. FLC - the resistence is $17. The drillers may give it another go on Monday especially if oil price is decent and I will set stop slight above 17. FGII - another stock closed at midline BB. INHL - resistence still at $30 and it could not penetrate its upper BB. Will be stopped out if they make higher high. SCTR - I will sell Monday if it drops to $30 - 30 1/2 where I see support. It will likely make a bounce after that I will reshort. MU - this one is totally unpredictable and I will not bet anything on it. Once the option at the money premium runs low like in a week from now, I will try to do a long straddle. CL - it is now turning the corner and its support on Monday should be at around $86 unless we have another Grey Monday. PNU - another one of my puts. Support Monday should be around $45.