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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 84.82

+3.0%

Feb 6 9:30 AM EST

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To: RetiredNow who wrote (68054)	6/16/2005 10:10:09 AM
From: GVTucker	Read Replies (2) of 77400

mindmeld, OPEC supply quotas don't have an effect on oil prices because OPEC has been producing at full capacity for a long time now. The quotas are irrelevant. If refining capacity was the driver right now, then we'd see unleaded gas futures making new highs. That hasn't been happening. In addition, natural gas has been moving up with price of crude, which also suggests that the refining bottleneck (which is real) isn't the driver right now. My best guess is that OPEC is right in this specific case--speculators are driving the price of crude. BTW, if crude collapses right now, I don't think you should be too quick in thinking that large caps like CSCO would take off. Best case for CSCO is a modest decline to the mid $40's.

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