Oil service stocks have experienced a decent correction, and are now at very attractive levels, we believe. As long as oil prices seem set to remain above $40/bbl., these stocks should experience excellent, HIGHLY ASSURED, earnings flow in future.

Paralzying fear, in persistent aftermath of great 2000-2002 bear market has blinded investment gurus to statistical reality that some of highest quality stocks are selling at best valuations since '82 market bottom. In some cases, valuations are far more compelling than in October, 2002. Enlightenment will at first dawn gradually. Over the course of time, fuelled by rising prices, we should see upside explosion.

We believe odds heavily favor very powerful equity market rally, starting today. Fundamentals remain very favorable for non-real estate, non-consumer stocks. In additon to favorable valuations and prospective rate decline as mortgage-backed financial crisis protracts, pervasive fear is powerful plus.