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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who started this subject	4/2/2002 10:46:58 PM
From: Joe Stocks	of 787

If you are holding oil stocks you may be interested in this (I sold mine too early). From Bond talk. COMMODITY TALK: Inventory data just released by the American Petroleum Institute for the week ended March 29th are bearish for the crude complex, particularly due to the build in gasoline, which is in focus this time of year. It's notable that last Friday the CFTC reported that non-commercial traders (speculators) held their largest net long position since October 1999 in the week ended 3/26, with specs long 77,030 contracts but short just 18,005 contracts. The spec position, Combined with continued builds in inventories and an uptick in the rig count (drilling), oil would likely consolidate, if not for tensions in the Middle-East. Consensus ESTIMATE: Actual: Crude oil +1.3 million barrels +6.50 mln bbl Distillates -1.8 " " -3.28 mln bbl Gasoline -2.0 " " +3.87 mln bbl

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