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To: JungleInvestor who wrote (40307)	3/18/1999 12:10:00 PM
From: Gary Burton	Read Replies (2) \| Respond to of 95453

Well, Sarge, you convinced me, I bought a bit of UFAB at 8.38--seems to be lagging due to tiny float. I appreciated your rehash of your recent talk with CFO. .....I sold the last of my VTS this am-5 waves up so end of sequence-needs to back off to say 12.50-13. may buy abck then

To: JungleInvestor who wrote (40307)	3/18/1999 12:28:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

Trading ? PGO with double the EPS for 1999 of VTS - now the same price?; sounds like profit taking time in VTS & rotate into PGO and re-buy VTS on a dip to high $12's imho... I love VTS, but a little heady here; as soon as a couple of major funds quit buying - down she goes in a retracement that is due imho - I see oppportunities to buy in the $12's again... Think the fund manager who dumped VTS to the $8's is feeling a little sick here ? RIG - higher eps estimates than DO - but cheaper, now cheaper than ATW ? RIG is a buy here... Laggards - not many left; values look to be GIFI & UFAB - which are in a tier of their own; GMRK & TMAR could be huge movers, HLX & OMNI lagging - but will have their day - these 2 laggards will not go un-noticed much longer - patience; $5 on OMNI & $7 on HLX soon perhaps... anyone think UTI is pricey - could still be a while untill dayrates/utilization endorse this price ? - I see profit taking again soon - some stocks like SLB, SII, CAM, WFT, ATW, UTI have exceed most 1999 price targets... There has to be room to move based on earnings improvements/Rig utilization/dayrate improvements. Retracement Time ? Are we due again next Monday - Wednesday (or even tomorrow ?) due to next tuesdays inevitable post OPEC Meeting euphoria letdown ? ...profit taking prudent ? ...food for thought. I sold all out of PDE ( from $5 to $8) and rotated the $ to PGO today. PGO I don't have to worry about ...may buy some GIFI/UFAB today as well - something is cooking with GIFI ! GIFI has had strong volume and lots of 10K+ shares buy after buy just hitting the ask all week and the MM's refuse to let this dog run ??? MM's keeping a lid on GIFI untill Petronius imho. The volume tells the story... can't loose at this price even if Petronius is not awarded - it's not priced into any expectations. With Petronius - has to be a $15+ stock right here - right now ... What are we buying/trading here folks ??? idea lists... Where do we go ? I see OSX 72ish as a valuation ceiling here - bouncing between 66-72 untill we get more news of OPEC compliance, API/EIA news, and especially news of increasing equipment orders, RIg utilization and dayrates. OSX 72-85 over this summer as we get into the summer driving season-peak demand for gasoline. Hopefully, we will see things other than just improving Crude prices to reflect an improving enviroment. I don't see us going over OSX 72-85 without strong improvements in dayrates,utilizations and equipment orders... If we have firm $15+ Oil and positive expectations of Asian demand recovery and people are talking $18 Oil - then this fall/winter we could be moving upward of OSX 85 based on Earnings and year over year improvements... OSX 100 will be the target.