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Strategies & Market Trends : Signals & Opinions

SLV 43.91

+0.8%

Nov 7 4:00 PM EST

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To: Yogizuna who wrote (1884)	9/13/2003 12:44:28 PM
From: James F. Hopkins	Read Replies (1) of 3523

Follow up on last post I don't track oil/dollar on a micro level, day by day..I just look at the longer term changes.. I keep in mind taht a change in the relative value of the US $ has to be applied to changes in $ cost of crude.. --- July to August Oil screamed higher as the dollar went UP that was shit..oil up about 7% dollar up 2.5% dollar adjusted rise in oil was 9.5 %... taht held almost steady until about labor day... ----- But shit..from the start of Sept.. Dollar down 3% crude down 10%.= adjusted change OIL is down 13%... ---- Adjusted from July we have Dollar adjusted Crude OIL "cheaper" by 3.5%...if that can stay in place or get better it's good for the stock market..( I would not play drillers , but instead BIG integrated ( oil refiners ).. ---- Most of that "seems" to be already priced into stocks.. however when adjusted crude moves down profits can be multiplied more than the percentage of the reduced cost of energy. The cost of energy is permeated into "almost" every thing. Jim

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