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Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: SJS who wrote (3977)	10/8/1998 10:50:00 PM
From: Thean	Read Replies (1) \| Respond to of 14427

Steve, oil is being held up due to both seasonable factor and the recent storms. No one (at least not the irrational permabulls) believes that oil price can sustain at above $15, and now $14's is also in danger. However, no one wants to touch OSX stocks. They knew the fundies story, they saw the historical chart (this is really the deja vu W scenario), they looked at the overall market and they executed on the battle cry of the day - sell the biggest losers first. Oil and OSX is still coupled, just that one is more exaggerated in its move than the other. Having said all these, OSX is due a technical rebound though. However, I don't see them recovering strongly unless there are some extraordinary items coming out like mideast war, further OPEC tightening, etc. For trading, FGII will continue to be a good candidate. It hit support today and bounced back. I expect a pop tomorrow but will have to see if OIL and the overall market cooperates too.