John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Jorj X Mckie who wrote (2615)	8/14/2000 4:40:39 PM
From: John Pitera	Read Replies (1) of 33421

Re. selling the news on oil normally that is that case. when everyone is talking about a trend it's time for it to reverse. occasionally you can find instances were everyone is talking about something and to use an elliot wave concept, it's a third of a third wave advance in a bull mkt or it would be a decline in a bear mkt. it's a point where their is mass realization of a trend and it propels the trend much further even though everyone "knows" about it. The issue is how many people are long these energy stocks and have been in the energy complex bull mkt?? the fundamental situation in NG and heating oil, seems to indicate higher prices, but I agree that it's "front page" news so we'll have to watch it closely. John+

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