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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: t4texas who wrote (33452)	7/8/2004 6:35:18 PM
From: James W. Riley	Read Replies (1) of 206093

``It's hard to find a single reason for this rally except to say that the funds are coming back in buying and everyone is piling in,'' said Justin Fohsz, a broker with Starsupply Petroleum Inc. in Englewood, New Jersey. ``It looked like we would test $40 when we came in today.'' Demand for crude futures has increased since a so-called support level at $38.75 held about 1:50 p.m. yesterday. The support level, identified using Fibonacci analysis of previous trading trends, is a price point that can trigger bouts of buying if it is not breached, according to United Energy Inc. analyst Walter Zimmerman. "http://www.bloomberg.com/news/markets/energy.html"

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