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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Steve Lokness who wrote (10651)3/22/2004 8:02:18 PM
From: Archie Meeties   of 110194
 
Steve, I was commenting on your argument that stocks are high (if you include the spr). The oil market doesn't count the spr when it thinks about the relationship between stocks and price (an inverse one).

The issue of whether or not continued buying of crude to add to the spr influences price is a different matter. It may have a small influence, but to put things in perspective you need to look at the % addition of spr compared to total global demand. It's an extremely small % of total daily demand.

Personally, I think filling the SPR is just reflective of some latent hoarding tendencies by the retentives in washington, but I don't think stopping the fill will change crude prices much.
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