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To: bw who wrote (7499)	2/19/1999 10:30:00 AM
From: The Ox	Read Replies (1) \| Respond to of 14427

Reports like this just emphasize how far behind the curve many analysts are. To drop estimates for next year by 50% shows these people are clueless! This type of a change doesn't happen over night or for that matter in one quarter. Oil has been trading at or below it's current price for months now. Next quarter they will reduce estimates again and sight the disappointing 1st quarter sales and low oil prices. Duh....

To: bw who wrote (7499)	2/19/1999 10:47:00 AM
From: Thean	Read Replies (2) \| Respond to of 14427

bw, "Bottom feeders are under great pressure" ! <g> Try SEV. <GG> Pete - sorry my Pete's pun did not help you today. I would not be too concerned about the Aug expiration. If RIG is $15 at that point, sell another 30 put contract 6 months out. The worst case scenario is you do this 10 times and eventually you will come out a winner. "It's the price of oil, stupid" works both ways and is a time tested concept. The advantage of selling put is you don't have to park your money there while waiting. The catch is your buying power will be reduced by the $30 x # share, but your cash earns interest while you wait and you can use that put proceeds anyway you want. If you have excess cash lying around and don't fully invest in stock at all time, this is a perfect tool to bottom fish.