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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 681.86

-0.7%

4:00 PM EST

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To: Crimson Ghost who wrote (43056)	3/15/2000 10:09:00 AM
From: Fun-da-Mental#1	Read Replies (1) of 99985

"Perhaps these stocks are anticipating further weakness in oil prices." They've been anticipating weakness since oil was $20. They're valued appropriately for about $16 oil. Many analysts and even the companies themselves are estimating reserves and earnings based on $18 oil. But I doubt we'll see under $25 any time soon. Depletion is taking its toll on the oil basins of the developed world. That means OPEC can keep prices up. $10 oil was based on special circumstances, and besides it was only a temporary reaction low in the futures markets. Prices were higher in the physical market, and they still are. Fun-da-Mental P.S. the XOI is up this am, OSX down. It seems OSX follows the price of oil, whereas XOI has more to do with the companies' profits (which are starting to come through for the E&Ps, although integrated companies have squeezed margins on their final products)

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