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Strategies & Market Trends : games trader group
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To: John Paquet who wrote (156)10/8/1999 7:02:00 PM
From: goldsnow   of 507
 
Oil prices are down 15 percent this week. Crude oil for
November delivery fell $1.55, or 6.9 percent, to $20.90 a barrel
on the New York Mercantile Exchange, the lowest since Aug. 27.
The slide has taken back recent stock gains linked to the promise
of higher oil-industry profits.
``The stocks are obviously taking it on the chin with the
crude price,' said Tyler Dann II, an analyst at Banc of America
Securities LLC in Houston. ``The market though is going to wake
up and see that $20 oil is not such a bad thing.'

quote.bloomberg.com
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