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To: The Perfect Hedge who wrote (2958)	9/14/1998 10:15:00 PM
From: Lucretius	Respond to of 14427

nope, not till it hits 3 or 5 or the S&D situation of oil suddenly changes. I am looking for a tradeable rally in oil as the dollar drops, but any gains there should be offfset by the reduced consumption of energy in both the US and Europe as our economies join Asia. In every crash there are VERY sharp bounces. the key is that they do not last. This one has lasted 5 days since being at 7400. Let's see how long it lasts. The bounces should get progressively shorter in duration as we approach the panic phase and finally find some type of support that we can sustain a real rally off of before we go lower again. I think we'll know it is real when it barely bounces but on high vol. That will intice me to cover S-T shorts. I want to see panic, and all I see is arrogance from WS and especially from mainstreet. When DELL, CSCO, and MSFT go you're going to see a waterfall like you've never imagined!