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Strategies & Market Trends : John Pitera's Market Laboratory
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To: Raymond Duray who wrote (4264)7/12/2001 3:55:22 PM
From: John Pitera  Read Replies (1) of 33421
 
Ray, you make very good points, and we had an article from
Barron's here that talks a persuasive case for $19 crude
next year.

The Natural Gas futures strip is contango ( with the further
out months higher than the nearby month) but crude and
unleaded gasoline are not. As the further out months are
lower.

and Heating oil is until the winter months. The question is
do we see a rebound globally next year, or weakness, and
of course that's a question that many are asking.

I do think that Asian consumption is an important part of
the equation, as China and the Pac-Rim grow, they can
determine where marginal prices go.

I bought some EOG yesterday, but it's a not a major theme
focus for me (ie, I don't see that you need to really over-
weight the energy sector, but I think exposure to it could
be raised a bit).

and I could be wrong. easily

John
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