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To: Thean who wrote (3789)	10/6/1998 12:45:00 PM
From: waverider	Respond to of 14427

Ah, nice. I knew I could make back more of those lost wages in the oil sector. We're headed to sub $10 on GIFI. Thean, CL I've been watching. Support seems to be around $62. However, it is a little unclear to me. Someone mentioned some rumor about tomorrow being a Brazilian IMF announcement. Who knows. What's your target on this one to buy in puts? My brain is a little exhausted with this market volatility. I would love to put LU, AFS, and maybe GE, but my head is too fogged to make a decision. For those of you looking for a lower price for the gold stocks, it appears we are running up again. I picked up some MAY '99 $25 calls on ASA this morning. As LT has mentioned, I too believe in this situation it is probably more profitable to hold your positions on gold and only consider buying more on downticks. For a guy who bought puts on CCI in 150+ zone and has held on for maximum profit, he appears to have the the market god's pulse. Take care when messing with Mt. Olympus ;) <H>

To: Thean who wrote (3789)	10/6/1998 6:57:00 PM
From: Grommit	Respond to of 14427

Thean (or anyone) CL/UN 1. CL seems to have a huge exposure to Latin America, Europe and Asia. Are you very familiar with them? (I just read a few 10Qs, but nothing more.) They seem well run since they only got hit with a small volume loss in asia, (but a 14% sales drop due to currency deval), and if LatinAm or Europe tanks, it would be another 1/4 of the business out to lunch (approx). Overall seems like sales volume flatish on slightly higher volumes. But higher margins due to cost reductions (they claim). Sure it is overvalued and looks like a good short to me, but a well run company with a high stock price through no fault of their own. ;o) Wondering how much sales could get dinged with a recession? Asia has not dropped much yet for them on a volume basis. I would expect no growth in EPS unless they have more room to cut cut cut. How far out do you go on a PUT? on one like this which could sit around for a bit before it dives some more? ........... UN looks very similar, but I have not looked as closely. Could you expand on your opinion of these two. Thanks, grommit