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Pastimes : QQQ & DIA - chat & chart

QQQ 623.23

+2.2%

Nov 10 4:00 PM EST

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To: Jon Khymn who wrote (425)	3/20/2003 7:30:02 PM
From: Chris McConnel	Read Replies (2) of 795

Hi Jon, i tried to pickup some QQQ puts today, but order did not fill. Will try again tomorrow. How does the economy look to you now? I keep reading things are so bad, the fed is going to cut rates soon, as if they were not low enough already. Also, on oil: Free ride down over in crude oil Howard Simons 3/20/03 10:56 AM EST The big drop in crude oil should be over: Refining margins are turning back up, inventories are still near three-decade lows and backwardation (premium of the front month future to the second month) has come back in to sustainable levels. Moreover, the short and quick war has been priced into the market and we've chased the tourists. Unless OPEC errs on the side of overproduction - and we don't know what side deals have been made - we should see strong support at $29.50 and then $27.20.

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