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To: drsvelte who wrote (32613)	12/8/1998 2:59:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Gulf States denial and this afternoons reversal - ''a classic lesson here'' While I see the Street reversing itself this afternoon on the aparent ''denial'' by the Gulf States of it's production cutback pledge; this hammers home my thoughts on ''thinking outside the box'' and seeing opportunity when others emotionally react. Many, many different sources reported the ''commitment to cut production'' by the Gulf States. This was a ''scoop'' reported from various sources. However, as the powers that be have not as yet ''publically'' and ''officially'' announced these cuts - they are now being denied and now the shorts are back, reversing this a.m.'s positive open. Now what I see is opportunity. I saw GLBL pop from $5 to over $7 - 40% !!! on ''just news'' ! - this tells me the short interest and also their ''degree of conviction''- in their position (which is nill); the Street knows GLBL is vastly oversold. These are traders playing the public emotion Mo-mo game. They have absolutely NO conviction in their position what so ever. They will move on a whim as the wind blows here... What they are doing is literally moving this sector at will; as their is little conviction on behalf of the individual investor or a major Fund/Institution buying here. The lemmings following the penguins... classic ! People; when I see a 40% move in a stock like GLBL off of just this news - I'm going to buy the dip again... (allthough I allready own it in spades...). The Street has just tipped its hand to me. THe Street so badly wants to own this sector and to not miss this move; that the moves are hyper-exaggerated here. This shows me that we most definitely will see another 30-40-50% move here; not if - just when...and it will not be a long wait imho. OPEC and especially the Saudi Oil Minister (and the Saudi's run the supply show) have continously commented on how they must just ''cut'' and not publically pre-announce it... this has been played down of late. OPEC's delay in waiting for the results of the Venezeulan elections was also a ''tip of their hand''... Today we are seeing a classic ''bear trap'' being laid by OPEC/Gulf States. We will see cuts - we may not see ''announced'' cuts - but we will see them imho. While the last few days results pricewise in the OSX are not in themselves enough to declare that the game is over; it is a sign of how the game will be played; and we just got to see the Streets ''cards'' imho; so now I'm pushing some more chips to the center of the table & I'm ''calling'' !!!