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To: SliderOnTheBlack who wrote (38864)	3/4/1999 9:28:00 AM
From: marc chatman	Respond to of 95453

I'm tending to agree that Merrill's motives may not be so pure (as if they ever are). The Merrill cuts come just when the OSX is poised to crack the 50 day ema, which has provided some resistance. It also comes after Merrill has dumped loads of OS stocks -- makes them look bad now if OS takes off, doesn't it? Maria also mumbled something about Morgan saying that yesterday's move could be a headfake. No problem here. I wouldn't mind seeing another dip in RON or WFT. I'm patient. As for OPEC, am I the only one who finds it amusing that Iran and SA are calling on non-OPEC countries to join in additional cuts? The non-OPEC countries are probably the only ones which made their pledged cuts. I wonder how Norway's or Mexico's compliance rate measures against, say, Iran's 1% compliance; or even against the OPEC 70%+ compliance rate. I previously thought OPEC wouldn't agree to new cuts. Now, I think they will promise production cuts -- why not? -- it's not like they're expected to keep their promises, and maybe some pledged OPEC cuts will sucker non-OPEC countries into making additional cuts.