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To: diana g who wrote (39670)	3/11/1999 3:38:00 PM
From: Box-By-The-Riviera™	Respond to of 95453

You've been so quiet these past several months.... Would like to hear from you more, objectively speaking.... Joel

To: diana g who wrote (39670)	3/11/1999 4:22:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

Hi Diana I agree it is the time to hang tough. We may have a pullback but I see it as a buying opportunity. Sooner or later, we have to get a rally with legs. We have had a series of abrupt rallies but I think this one may be more like the one from mid-March to early May of 1998. I like the fact that the Saudi guy is the one popping off about "substantial cuts". The Saudis are the key producer, not Venezuela. No one in OPEC will cut if the Saudis won't share the pain. They need to recognize that they can't keep all the Iraqi quota when Iraq is doing 2MBPD. Ask yourself, why would the guy be talking "substantial" if he didn't have numbers to back it up ? He knows that a meeting that ends in disappointment, or worse, rancor and finger-pointing, would be absolutely devastating to prices, and really, the death of OPEC. I keep telling myself that while OPEC seems really stupid sometimes, they can't be that stupid. <ggg> Best, John