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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	6/21/2001 11:17:19 AM
From: besttrader	of 37746

11:00 ET Dow +0.20, Nasdaq -4, S&P +2.45: [BRIEFING.COM] Rebound effort has been stymied with the oil-related stocks reversing course in conjunction with the slide in crude prices which are down $0.48 at $26/bbl... The downturn in prices comes on the heels of yesterday's Dept of Energy report that crude oil stocks were 6.9% higher vs last year and Tuesday's API report that they were 7.8% higher, which suggest that the supply of gasoline for the summer driving season will not be a significant issue... The rise in inventories is also consistent with an economic slowdown as there is less demand for oil with consumers traveling less and manufacturers cutting back on production... Continued strength in the financial sector remains a key source of support for the broader market; whereas, some bargain hunting in the telecom equipment group has helped limit the Nasdaq's decline... XOI -1.6%... NYSE Adv/Dec 1363/1356... Nasdaq Adv/Dec 1517/1604.

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