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To: Broken_Clock who wrote (6440)	1/7/1999 10:45:00 PM
From: Thean	Read Replies (1) \| Respond to of 14427

Papaya, we all know how internut these drillers can get when they are subject to the mo-mo mentality. Fundamental-wise there is really nothing to boast about but price movement-wise they always go cycling for the right reason or wrong. I agree with Noesis assessment on crude prices near term and the big global demand is nowhere to be seen. OPEC can further trim production and that would help but the best medicine for this group is still demand growth and that is zippo right now and will likely be zippo for the next 6 months. However, right now we have the stupid money pouring in scouting for places to invest and the Jan effect will keep the drillers afloat for awhile. That is why I think we should plan on shorting this group again (and again) when it reaches its upper stretch near term. It always goes in cycles - for the right reason or wrong, and that has been a fact for 1 1/2 years now! However, for now the trend is up and you know how suicidal it can get when one steps in front of a mo-mo train... Did you expect MU to be trading above $60 now?