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To: Mike from La. who wrote (28411)	8/26/1998 4:09:00 PM
From: Redman	Respond to of 95453

Well, two of my holdings hit fresh new lows today -- mavk and fgii. green

To: Mike from La. who wrote (28411)	8/26/1998 4:36:00 PM
From: Todd N	Read Replies (2) \| Respond to of 95453

Mike - FWIW, I was going through my RIG annual report last night, and noticed something interesting. They had earnings and stock price info going all the way back to 1993. The LOWEST "current year" PE was about 20, which marked the low for that year. The "current year" PE is about half that now (based on earnings expectations of $2.84 this year). RIG has already earned $1.46 this year, yet is trading at levels where they earned less than that for the whole year. Even if RIG doesn't make any money for the rest on this year, the PE would be at the low for the past 5 years. I haven't check other OS stocks, but I'm sure they would show similar valuations. I would also like to see how the PE is compared over a longer term. The market seems so obsessed with technical indicators, that valuations no longer seem to matter. Jeesh, wake me when the brutality is over. Todd