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Politics : High Tolerance Plasticity

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To: kodiak_bull who wrote (2203)	3/22/2001 10:23:13 AM
From: ItsAllCyclical	Read Replies (1) of 23153

OSX targets It needs to close below 119 not just on an inter-day basis. If that happens then you can see there may not be good support until 100 again. 207.61.23.98 Very possible if the econ news continues and markets tanks then there's no way OPEC can keep their "crude house of cards" together. There are very few long term energy holders. Most use it as a safe haven. Right now it doesn't look very safe and techs are starting show signs of receiving rotation $$$$. I still think it's premature from a valuation standpoint, but consider mutual fund cash levels it's not too surprising they're trying to put some money to work here. I would imagine short term traders will leave the patch in droves especially if oil prices continue to weaken. Again the only scenario I see that keep the oil sector moving higher is a tight trader range for both the Dow and Nasdaq. I don't see that happening. But I have no oil position long or short at this pt.

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