John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (5057)	11/15/2001 5:14:29 PM
From: isopatch	Read Replies (2) of 33421

Good point. Here's some sentiment #s from yesterday: Message 16658860 Lot of very thought provoking numbers there. Just time to dig into one example: The very low bullish percentage in crude oil is very interesting. Particularly because It was compiled before OPEC "went into the bag" with NO production cut vs expectations for them to trim another mil and a half bbls/day. Looks to me like the energy stocks and commodities are moving into an old fashioned selling climax The crude oil chart Terry posted shows several important levels in the mid and upper teens that are looking highly likely even in the ST. Just took a look at the closing prices and here's NYMEX chart of the past 3 days in Dec West Texas Intermediate crude oil. When was the last time you saw oil drop over 20% in just 48 hours?! Looking like a selling climax is in the making to me. quotes.ino.com. Never a dull moment in the markets this year!<g> Isopatch

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