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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.44

+1.6%

Nov 10 4:00 PM EST

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To: pater tenebrarum who wrote (39564)	2/10/2000 10:25:00 AM
From: Fun-da-Mental#1	Read Replies (1) of 99985

Re oil, a couple more reasons for the divergence between oil and the XOI: 1) Oil company profits are not what they should be with the oil price so high. Factors contributing to this are hedging, debt, restructuring costs, and also possibly a falling success rate for exploration in North America. 2) Analysts seem convinced OPEC will start overproducing again. I doubt it because the conditions in 98 were special: economic collapse in 3 major oil producers at once - Indonesia, Venezuela, and Russia - which caused them all to break ranks and start dumping. Fun-da-Mental

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