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To: Tom Rollins who wrote (41747)	4/7/1999 2:45:00 PM
From: SliderOnTheBlack	Read Replies (4) \| Respond to of 95453

''Averaging down'' - for nibblers - I'd widen the spread between buys here Tom Rollins; - good trade & thoughts on FLC - same here; in here and setting limit buy orders on prior support levels - will chase through to new lows - excepting any Rig cancellation news etc - conversely; I'd blow out FLC on ''any'' news of that nature immediately; - it's downside is as Mo-Mo-ish as its upside... On a Stock like RIG - imho; it doesn't make much sense to chase $1, or even $2 moves - I'd buy RIG here - say $25 7/8ths - and set a limit at say $22 ish and then if ''filled'' there - another at a new low - say $18ish etc. - can't imagine seeing a new low - but the point is that when sentiment changes (read when OPEC reports compliance #'s,or when the Rig count rises) then RIG will blow through $30-35 imho; - so missing a $1-$2 move down in RIG isn't as important as not missing the upside move of $10-12 + FGI is another one, that owning here is more important than missing another $1 - $2 dip; buying here at $13 and sit at $10 again - we allready know that FGI will be run up through $16-18 in this enviroment when the tide turns again..Hard to magine if OPEC moderately complies that we will not see $20-24 FGI this fall imho ...RIG FGI (and PGO) these are 2/3 stocks that I don't mind missing the bottom again by $2ish - because the upside ramp potential is substantial - and a greater risk is not being ''in'' when we turn on a dime once again... Not all stocks are in this catagory, so I am only chasing 2-3-4 stocks in the entire patch in this manner. We may also, get another CLB type meltdown to buy with the earnings period coming up here - good to have some cash for these opportunities as well... SargeK - on vacation ? - you had better have had some UFAB limits set (VBG)... I think the problem here is a lack of buying support versus strong selling, or dumping... shorts saw the opportunity and seized it - not a bad move for professional traders/hedge funds - who ''know'' the minute that Fidelity et al return to the buyside...