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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Chas who wrote (28622)	8/31/1998 10:13:00 AM
From: MARK BARGER	Read Replies (2) \| Respond to of 95453

The Bear Stearns comments on CNBC set up a sucker's rally this morning. INCA pushed up the bid on FGII from 10 3/4 to 11 1/2 preopening, and the preceeded to switch to the ask 5 minutes after the comments on CNBC and started dumping all they could, promptly dropping FGII from 11 3/4 back down to 11. They are no longer anywhere to be found on the level II MM bid list. Clearly a fakeout this morning. These guys have bottomed, but no catalyst yet to get the institutions to start nibbling again, they're still dumping. I really can't see the OSX falling to much further below 50. Everyone who wanted to get out is pretty much out. Good luck to all. Mark