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Strategies & Market Trends : John Pitera's Market Laboratory

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To: MulhollandDrive who wrote (4853)	10/15/2001 2:41:07 PM
From: John Pitera	Read Replies (1) of 33421

Commodity prices continue the downtrend. Gold prices continue to retrace the rapid surge following the 9/11 events. Spot gold prices are down $3 today to $281.40 as the Dec contract is also down $3 to $282.70. The CRB has fallen another 1.4 today to 184.2 as natural gas prices help lead the decline as only 3 of the 17 components shows a rise for the day. The price of the Nov crude oil contract is down $0.16 on the day to $22.34. ------------ Words of warning from the private group which calls themselves the Shadow FOMC. The group sees the need to drain bank liquidity supplied after the 9/11 crisis given an eye toward inflation and warns against Fed "quick fixes". In Briefings opinion, that immediate response is exactly what the market does need. The group warns that more stimulus is not likely to jump start the economy but also cautions against temporary fiscal response. The group sees the purpose of fiscal/Fed stimulus as long term in nature and warns against short-term fluctuations.

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