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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/2/2001 3:21:34 PM
From: besttrader	of 37746

15:00 ET Dow +4, Nasdaq +52, S&P +1.78: [BRIEFING.COM] With an hour left in the regular session, total volume traded is on the heavy side. The Nasdaq has already surpassed 2 billion shares and the Big Board is over 1 billion shares. This is a somewhat higher level than recent history and will bolster the market bulls' case that the current rally may have legs. Oil-related issues are genuinely getting hammered today with the XOI down 3.6%. Both oil and gasoline inventories were reported stronger than anticipated which has eased concerns over tight supplies during the peak Summer season. The spot price of crude is down a sizeable 3.6% intraday to $27.88 per barrel. Separately, natural gas supplies were announced this afternoon and also came in higher than expectations. The report has helped to drop prices on the commodity by 3.1% intraday. These are both good reports for the equity markets as lower energy prices reduce the cost of doing business. DJTA +1.1%... DJUA -1.5%... SOX +1.9%... XOI -3.6%... BTK -1.3%... Nasdaq 100 +2.9%... S&P Midcap 400 +0.2%... Russell 2000 +0.3%... NYSE Adv/Dec 1522/1491... Nasdaq Adv/Dec 2342/1486.

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