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To: drsvelte who wrote (7715)	3/10/1999 8:31:00 PM
From: The Ox	Read Replies (1) \| Respond to of 14427

Breifing's argument is very narrow, IMO. The last thing they say is traders should note that SII expected to earn $0.89 in FY99, resulting in projected p/e of 38.2 or a significant premium to the overall market... Based on stock's recent price and earnings history, do you really think it's a good idea to pay a premium multiple for the stock? Neither do we. Do they mention that the company earned over $2 per share last year? Do they mention that estimates for FY00 are for $1.44 under the current environment, which would lower the forward PE significantly from the 38.2 they mentioned. I agree that we have seen these run ups in the past, before an OPEC meeting and that we should understand that the table can turn very quickly. At the same time, this little ditty on SII doesn't really tell the whole story. Just thought I'd add my 2 cents. BTW, I decided to hold onto my gains in TXCC and GALT and let them ride (for now).