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To: BOGEY who wrote (27662)	8/13/1998 4:51:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 95453

The failure of the OSX to rally along with crude today (it fell about 1.8%) signals that the bottom probably is NOT in yet. Failure to respond to good news almost always means further turmoil ahead. I do not see much more downside (5% or so), but new lows look quite likely in the very near future. I am looking for one of two scenarios to signal a turn. First an old fashioned selling climax on huge volume followed by a convincing reversal. Alternatively, the stocks might just stop going on bad news of all kinds. If that kind of action were to persist for a week it would constitute a powerful buy signal in my book. One thing for sure. The stocks will turn long before the news flow swings from bearish to bullish. Anyone waiting for good news to buy the stocks will miss a good part of the move.