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To: SJS who wrote (27753)	8/14/1998 2:12:00 PM
From: Snowshoe	Respond to of 95453

Every time I'm tempted to start buying this sector, I pull up the chart and look at what happened to SLB in the eighties... tscn.com

To: SJS who wrote (27753)	8/14/1998 2:14:00 PM
From: Grommit	Read Replies (1) \| Respond to of 95453

Steve, It would be nice to think that these decision to sell are irrational and based on emotion, but there is more than a fair chance that the decisions are quite sound. This is a very cyclical sector in which the down cycle is becomming more sharply defined as a very steep drop. There is also the possibility that this downcycle could be quite long lived. The situation is more dire than originally thought and except for a saudi statement or two there is NO indication of a turn around.