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To: thomas hayden who wrote (38719)	3/3/1999 12:23:00 AM
From: Gary Burton	Read Replies (3) \| Respond to of 95453

Tom-re VTS--Hard to say what wed will bring in light of good API data and VTS already decimated. My trading software says downside risk is to 7.5-8ish area but only if 9.25 falls. RDC and ESV came out with bad outlook going forward (no earnings to a slight loss) and the stocks held. If I was not long VTS and was eyeing it, I'd probably wait 5-10 min to see how it opened and if not down i'd probably jump in. I suspect there are a lot of eager buyers around who were just waiting for bad news to come out (forward projection) but most people likely had already factored it in. Now that we have no earnings to speak of the next 2 qtrs (but no financial risk), we can ignore eps and p/e multiples all together now, which is usually one of the signs of a bottom in a cyclical stock. Let's put it this way I'm not selling!