John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Jorj X Mckie who wrote (5976)	4/18/2002 11:58:28 PM
From: John Pitera	Read Replies (1) of 33421

Hi Tom, Not really. aren't we the mover and shaker I have a old friend of mine, brad who lives in LA, but he's back here in town for a few weeks and he's staying at John Green's house. I went over to see Brad and John G. was there along with my brother and another friend. So it was very informal. But it was really interesting to hear John talk about what he's doing with his new Hedge Fund. He's going to focus on an area that not many people are, and Houston is the logical place to be running an Oil related fund. Just like NYMEX (where they trade crude and the energy complex futures) has their second office down here. The crude market has been trending very very well the past few months. 28 dollars was the price area that we saw commercial selling occur at and cap the price action in the summer of 2001. the nearby contract could not really get above $28 a barrel in July, August, and Sept. and then prices had the significant post 9-11 break down. futures.tradingcharts.com Crude was trying to break above it's major downtrend line on the weekly chart when it got up near $28 2 weeks ago. I really agree with you that a break above $29 would really take out the major downtrend line that you have shown on the P&F as well as the weekly Bar chart. weekly chart...... futures.tradingcharts.com John

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