hey ted!, page-42

John,

The thing for me is that it's not just the oil story to watch, it's also the sp and overall market story.

We've had a phenomenal market recovery, plus we know stocks like CVN have wild swings on sentiment. If I buy anything at the moment it is on my ML, and I want to be sure whatever it is will recover robustly and promptly from the next market correction.

I can see a possibility that belief in the story keeps the sp at current levels, or even a surge into the 70's on some new deals, however a pullback in the poo or the market, or nothing much but more prdn decline to report next Q and we could briefly see under 50 imho. If I was in I wouldn't be selling atm, however being out makes for a different story.

EL