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Sweyn Forkbeard of Denmark was hostile both to Burislav and Olaf and the king of Sweden was leagued with the Danish king. To detain Olaf while they gathered their fleets, these kings employed Sigvalde, the cowardly chief of the Jomsvikings, who had fled from the battle with Earl Haakon, to visit and lure him into blind confidence. The treacherous viking succeeded.

"You ill-born hound," he cried, "why do you fly and leave your men in the lurch? Shame on you, and may shame cling to you to your death!" A spear hurtled from his hand and pierced the man at the helm, where Sigvalde had stood a moment before. But the ship of the dastard earl kept on and a general panic succeeded, all the ships in the fleeing earl's line following his standard.

Despite the storm and the supernatural terrors that they conjured up, the Jomsvikings continued to fight, though their decks were slippery with blood and melting hail. Only one coward appeared among them, their chief Earl Sigvalde, who suddenly turned his ship and fled. When Vagn Aakesson, the most daring of the Jomsvikings, saw this recreant act he was frantic with rage.

When Thorkill saw the treacherous act of Sigvalde and caught sight of the ambushed fleet, he let fall the sails of the Crane and awaited the coming of the king. Soon the Short Serpent came up, its gilded dragon-head shining brightly in the sunlight. Not long after the Long Serpent appeared, its golden prow glittering brilliantly as the sunbeams fell upon it.

His smooth, soft ways won Olaf's heart and the open-minded king put complete trust in him. Sigvalde finally, after bringing about much delay by his false arts, engaged to pilot Olaf with his own fleet through the dangerous waters of the coast, and even induced him to divide his ships by sending part of them in advance.

To this band of plunderers Harald appealed and found them ready for the task. Their chief, Earl Sigvalde, brought together a great host of warriors at a funeral feast to his father, and there, while ale and mead flowed abundantly, he vowed, flagon in hand, that he would drive Earl Haakon from the Norse realm or perish in the attempt. His viking followers joined him in the vow.