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Strategies & Market Trends : Three Amigos Stock Thread

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To: Ditchdigger who wrote (19532)	4/10/2000 6:37:00 PM
From: Sergio H	Read Replies (1) of 29382

Thanks Ditch. Good day for DPH also, even with expected news release coming out. Thurs. I think is earnings report. Same thoughts on oil being shared in many circuits. From www.Tradingmarkets.com : <Crude Overreaction In Energies Traders dumped crude oil and product futures as poor-looking charts turned ugly and technical-selling drove nearby crude oil and unleaded gasoline futures down more than 4%. "Monday's decline was more of a technical than a fundamental thing: Once you get momentum going down a hill, it's hard to stop," said Phil Flynn, Senior Energy Analyst at Alaron Trading. New York April crude oil (CLJ0) gapped lower on the open, tried unsuccessfully to rally on several occasions and finally touched down to a three-month low, closing 1.24 lower at 23.80. Crude oil, as well as unleaded gas and heating oil, are on the Implosion-5 List, highlighting the contracts' strong downside momentum. OPEC agreed to increase production by 1.45 million barrels a day at a closely scrutinized meeting last month, providing the fundamental backdrop for the decline in energy prices. The Venezuelan oil minister--one of OPEC's largest members--said Monday that "if prices fall below $22 a barrel for 20 consecutive days we'll immediately cut back production." The $22 a barrel is based on an OPEC basket of crude oil prices with different grades. Flynn added, "we're at that level now and people may have a false sense of security here. At some point you're going to hit the bottom of the hill and reality is going to come back in. But how will this market react if OPEC does an about face on them and restores production cutbacks?" April unleaded gas (HUK0) slid .0322 to .7566 and heating oil (HOK0) tumbled .0169 to .6310.> Looks like Paper and Lumber is going into confirmed rally. (IP reports tomorrow). 207.61.23.98 I'm switching out of techs for now. Too much volatility for me. Sergio

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