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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lee Lichterman III who wrote (5564)	2/6/1999 3:22:00 PM
From: Challo Jeregy	Read Replies (2) \| Respond to of 99985

Lee, per IBD today, "more than 136,000 oil wells and 57,000 gas wells have been shut down since oil prices crashed in 11-97." IMO, I think oil stocks have hit their lows. Maybe oil price has, or could go down to $10. But buying oil stocks now would not get one anywhere (unless trading bounces) until oil is in a definite trend up. I agree with you. Challo

To: Lee Lichterman III who wrote (5564)	2/7/1999 7:37:00 AM
From: yard_man	Read Replies (1) \| Respond to of 99985

>>Even though I play short term, I like to buy something that if I get stuck with it, I know theri long term outlook is good<< This is exactly the reason I have purchased oil service stocks and will add more on a market melt. The OSX could drop another 10 - 20% in a market melt, but I seriously doubt there is much more downside than that; over 1 1/2 - 2 1/2 year time frame the potential is very good. I'm not that good at the short term so buying longer term value helps me.