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To: MARK BARGER who wrote (6571)	1/13/1999 1:04:00 PM
From: SJS	Read Replies (2) \| Respond to of 14427

TRIN now bullish .82, NAZ up over 5 Dow down 80... tick +753

To: MARK BARGER who wrote (6571)	1/13/1999 1:20:00 PM
From: Thean	Read Replies (1) \| Respond to of 14427

Mark, I suggest you may want to stay clear of the OSX right now. Technically they have the rest of the day to close Higher than yesterday in order not to slide back into the lower BB. Keep a close eye on RIG. If RIG can't rebound back today, it is NOT good going forward. Sentiment-wise, I find the current sentiment almost a repeat of the one 12 months ago in Jan 1998 - overly optimistic and stubbornly denying. If you were on the SD board back then, you would know exactly what I'm talking about. Fundamentally, nothing has changed. The anticipation is for OPEC to further tighten their output next month. This is priced in. Rig count keeps dropping. Majors keep slashing their E&P budgets. Net, the 20% bounce we got was simply the Jan effect. It would be very hard to revisit those numbers short term unless crude prices moves and stays decisively above $13. But most likely it will go nowhere. Beyond Feb, I don't see anything good going for this group. Think about when in doubt - do nothing.