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To: Mike from La. who wrote (27836)	8/16/1998 12:58:00 PM
From: diana g	Read Replies (2) \| Respond to of 95453

Hi Mike, You wrote:"My reading is that this is in addition to their agreed cuts." I hope you're right, but there seems to be some doubt--- biz.yahoo.com "...Oil markets remain divided on whether Saudi is making a unilateral bid to provide extra support or simply catching up on its full pledge to slice 725,000 bpd from February levels..." regards, diana

To: Mike from La. who wrote (27836)	8/16/1998 2:37:00 PM
From: Richard D	Read Replies (1) \| Respond to of 95453

<<Unfortunately Clinton is too engrossed in his problems to want to lead a stronge action against Iraq, he would only be acccused of using it to divert attention from his case, and the UN doesn't appear to have any power, but there is still the possibility>> More long shot analysis: I wonder if Clinton instructed Albright, et al., to suggest to U.N. inspectors that they lay off surprise inspections in order to 'appear' weak to Saddam. Saddam is always trying to gage the weakness of Western fortitude to push his agenda. There is of course the history of the U.S. giving a wink and a nod to Saddam, originally, when he was intimidating Kuwait. The U.S. then pounced on him when he went too far (not a well documented theory of events preceding the Gulf War and possibly untrue, but the US diplomats, in Iraq at the time, did at a minimum screw up conveying U.S. policy.) If Saddam sees weakness in this tough line the U.S. has had, he would make bolder and more provocative actions. These actions along with the Bomb issue would be just the excuse for military action. It's probably a little too Machiavellian for it to be true, but that is what the CIA is paid to do in its advice to the President. Richard

To: Mike from La. who wrote (27836)	8/16/1998 3:39:00 PM
From: Crimson Ghost	Read Replies (2) \| Respond to of 95453

Mike: The OSX made a new low Friday. Bottom obviously getting close, but we are not there yet. I want to see these stocks hold up better than the market on steep down days before even thinking about a final trough, brief short-covering rallies aside. Also do not forget that we are now in a bear market. After a modest retracement rally next week, the Dow probably will dip considerably below 8000 in September. This is bound to have some impact even on a depressed OSX. Still looks like OSX will drop to the 50-55 range before a sustainable rally gets underway. But it could be explosive when it finally does begin. Stephen Leeb has long been a perma energy bull. The right take over the 1995-97 period, but disastrously wrong this year.