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To: bw who wrote (1975)	8/20/1998 9:18:00 PM
From: Broken_Clock	Respond to of 14427

hmmmmm...nancy reagan....I'll get back to you on that after I consult with my psychic hotline....NOT!!!!!

To: bw who wrote (1975)	8/20/1998 9:30:00 PM
From: Thean	Read Replies (1) \| Respond to of 14427

First I always thought LT is a blad guy who likes to ride Harley. But lately I have changed my view of his being more of a psychidalic Roman astrologer type. Now that I found out he is neither bald nor patriotic I am beginning to wonder if he is just a golfer with a pistol. <gg> The market continues to be indecisive and although I wasn't following the action today it appears to me everything is a grind. The key thing I notice is that the techs are suffering the post-Dell depression and the mid-small caps are about done their dead cat bounce. Have a few thoughts here: Evil tower - a good sign today for the shorts as it could not sustain its level above $30. Obviously, $28 is a mini-support here and a close below it would ensure further slide. I'm not covering. CL - I have been tracking CL Sept puts for a while and there are big put buyers (in 500 and 1000 contracts) betting CL will slide when CL was above $85. Other than some profit taking yesterday, it still has about 1800 open interest as of today. A week ago the open interest was 10 (all mine but I had since close out). UN - same class of company as CL, a consumer non-durable multinational, has been holding up pretty strong the last few days. However, it cannot break $70. The market will give it one more day tomorrow and if it still cannot break above $70, the slide will resume again. It felt the pressure earlier than its peers and now it appears to have the best relative strength. But I won't count on it. PPG - A close above $60 will be bad for the short. Very same situation as UN. KMB - it broke down again yesterday and today. It is going to ride some BB lower. PMRY - it corrected quite a lot with apparent no change in fundamentals since its earning announcement. It came out with an announcement alfter close today saying it feels comfortable with the next 2 quarters. I may play the bounce tomorrow as technically it got its double bottom today. SEV - If it can break above convincingly tomorrow intraday, it may go to $16 1/2 - 17 in anticipation of the #4E well flowtest news release. But after that it should retrace back to its old low. This stock has one of the best predictability potential for those who know how to play it. Drillers - If the overall market further weakens tomorrow and there is no more bombing of terrorists, oil should rally no more and the drillers will be good shorts once again. Short candidates include NBR, UTI and ESV. However, there is always that buyout potential for them so this risk/reward is not as favorable as I like to be.