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Strategies & Market Trends : The Options Box

QQQ 625.58

-0.3%

Dec 11 4:00 PM EST

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To: Poet who wrote (7465)	11/18/2000 8:07:26 PM
From: Poet	Read Replies (1) of 10876

I neglected to include the paragraph from the Hahn report that includes his comments on oil: The crude oil futures chart is showing a pretty good start on another leg higher, in spite of many predictions for a falling oil market. Friday shows an outside day up! The Fibonacci target is $40. Furthermore, the breakout measurement would be equal to the height of the diamond, which projects to $44. The price of crude oil is the real problem for the stock market and the economies of the industrialized world. It remains stubbornly high. Renewed fuel protests in Europe are expected over the coming weeks. Refinery and transportation constraints are producing product shortages which propels the price advance in the raw material. Hoarding and speculation may be making the problem worse.

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