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To: Crimson Ghost who wrote (38024)	2/23/1999 12:03:00 PM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

<<Analysts must stop slashing earnings estimates for OSX to rebound in a major way.>> Most companies have reported and many companies have had a downward earning revision off of these numbers... Don't see many companies going much lower. Many have backlogs supporting earnings models through year end. Many funds/investors withTons & tons of cash and sitting on the sidelines view these current revisions as ''THE" set up for upside surprises in the next few quarters and are poised to enter right here imho - pending OPEC's actions. Also, these companies haven't been priced by the Street totally on just Earnings of late... Cash flow per share, Asset values, future expected earnings in a normalized crude enviroment etc. are part of the equation; if it was purely earnings - RIG would be $12... RON about $8,,, ...only time will tell; lots of shorting here - The Street will NOT get caught missing the Boat if OPEC announces additonal cuts - which may be a 50:50 proposition. So; they are shorting the hell out of the Oilpatch; Hedge Funds will not just turn on a dime here; they will turn on a pin-head... Once again; the little guy can play off of/profit by the situation that the Street has found itself in. That being that they can not afford to be in deadmoney - especially given a potential tech/overall market rebound here. This creates an ''artificial'' supply/demand blip in these stocks and a cooresponding buying opportunity. No guarantee of some individual stocks not drifting to new lows - but so what if they do; a logical bottom range may be OSX 42ish... the major point is that the nearterm upside so outweighs the nearterm downside that this is once again a solid bet to buy into any weakness below these levels in ''selected'' companies... only time will tell. Once again; the problem presented to the "Gloom & Doomers" is that stocks like RIG VTS PGO FGI RON (allthough RON is too pricey here) can spin $5-6 here in a couple of days - then they (gloom & doomers) are frozen - ''is it a head fake rally'' ? ; they pause again - we go up another couple of bucks - then they are really faced with a decision; just like the last 3 run ups... Do they then buy RIG at $30 ? Where in the hell do they jump on the bandwagon <VBG> ?