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To: Think4Yourself who wrote (44213)	5/6/1999 5:32:00 PM
From: Broken_Clock	Read Replies (2) \| Respond to of 95453

Karen, yes, that is true. However, GLM CEO has stated that rig rates won't rise significantly for many months. i expect a deline in the osx short term. I bought puts on SII today(July's). Should have picked them up yesterday but SII headed in the right direction anyway. I was surprised to see how much weight SII has in the osx....over 10%! I don't see actual earnings rising appreciably until 3rd or 4th quarter. That will be a good time to go long, IMO. i am expecting a nasty downturn in the overall market in the next 2 months. I don't think osx is immune from the shorters. SLB and SII are each 10% of osx weighting and both have been "roofed" at 66 and 49 respecively. Those numbers are strong resistance dating back more than two years.... iqc.com