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To: Crimson Ghost who wrote (30972)	10/21/1998 11:13:00 AM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

George;....I'm perplexed ???? @ OSX up 5% I saw both fundamental and technical signs yesterday that the market was going to take a pause; a retracement and head down 5-8-10% over a week or so.... So much for that. However, with 2 outstanding deepwater stocks selling off into strength - CXIPY & PGO - I am sticking with my ''gut'' feeling here. With all the bad crude news, or at least confusing price action and questionable #'s... I'm sitting on the side. I will NOT lose my trading profits on this bounce... I'm gonna just sit and wait for a big 1-2 day blowoff in a few companies... PGO could be one if it continues... This 5% move totally surprises me - unreal... I guess money flows back into the overall market have led to buying here... I am happy to error on the conservative side here for once. I will wait for the opportunities in the backing & filling to put support in place here, before coming back in. I think we may see some more tax loss selling into strength and the biggie - Clinton's potential full Impeachment still loooms for me... good luck all - I'm happy to be a contrarian on this one; but be carefull people; Crude's price action has me sitting & watching... PS: Ron, --- ''Bingo" - per your remarks on us not moving to a higher high or blowing through the mid Sept. Rally levels....that is right on the money. I am here on fundamentals, picking my companies/stocks on the outstanding longterm fundamentals; but, trading on the technicals....and the technicals "very clearly''say get out now imho. I see an all most absolute 5-8-10% retracement here imho. ??? time will tell. I have no problem buying higher if the fundamentals & crude prices warrant....still a long way for this sector to go...