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To: marc chatman who wrote (36155)	1/29/1999 9:19:00 AM
From: Gary Burton	Read Replies (3) \| Respond to of 95453

Marc-Actually, I'd be more sure of the ones that took out their lows in here. That would tell me they were in the tail end of the last wave down and were therefore buyable.--- The ones that have not done that yet are the trickier ones because one doesn't know whether or not they will blip up in a head fake and then drop to new lows OR whether the wave 5 on them was seen earlier and this current retrace is just a deep wave 2 of the first wave up in a new bull mkt.--- So, I would like to see as many new lows now as possible since they would actually be safer to buy at this stage. eg FLC at say 6 3/8, PDE in the 5-6 area for debt heavy types. ---As to the ones that are holding so far, I suspect PGO and VTS will not make a new low, just a deep retrace. I think RIG and RON will make new lows--and the picture would be ideal if the OSX makes a new low-which I suspect it will. SLB for eg looks lower.-----btw, Merrill just put out a comment on RON yesterday. They now see RON earning 1.25 in BOTH 1999 and 2000 (ie no gain in 2000 vs gains by others in 2000 vs 99).One wonders why bother with RON when one can buy others MUCH cheaper valuation wise and just as big. oops, sorry Slider.