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To: Think4Yourself who wrote (39095)	3/6/1999 1:10:00 PM
From: SargeK	Respond to of 95453

Same thing with GIFI but to a lesser degree. You have to time your purchases and sells during periods of high volume when the MMs are taken out of the picture. K

To: Think4Yourself who wrote (39095)	3/6/1999 1:18:00 PM
From: Gary Burton	Read Replies (3) \| Respond to of 95453

KL--re VTS--- I don't know the answers to your specific question. It just seems to me that seismic demand will rebound faster than jackup dayrates and that VTS' now negligible earnings outlook will therefore rebound faster than say RDC's negligible earnings outlook ( I own both). The semimfgs bottomed last Fall when their eps outlooks were breakeven at best.So, now no one looks at pe multiples anymore on some of the osx companies, which is great..... The risk is of course that maybe we will have to wait for the rest of the osx issues to go to breakeven going forward before the sector will rebound for real. FGI's of the world still have large backlog etc so maybe it's still too early---from a FA point of view, that lingering thought does concern me. As in buy the cyclicals of the world when they report losses not when their pe multiples are low. Most of the jackup guys plus PDE,FLC and now VTS now have 'no' earnings going forward short term but some still do. FA wise, I'm a little apprehensive that a true bottom has been reached when the FGI's of the world haven't really suffered eps wise yet. Sarge, help me out here. Can the fab guys really coin it ALL the way through without coughing eps wise?