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Strategies & Market Trends : Three Amigos Stock Thread

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To: James Strauss who wrote (14469)	3/14/1999 4:26:00 PM
From: Sergio H	Read Replies (1) of 29382

OIL SECTOR - CONTD. Jim and Amigos...I'm not able to change my opinion on the oil sector. I'm seeing a quick reversal from last week's rally....although I see that technical signals are indicating a continuation of the rally. Clearstation's OIX chart just signaled a buy: clearstation.com I'm going to sit on the sidelines...maybe take a short position on oil regardless of the technicals. Here's why: * The fundamentals haven't changed at all. No increase in demand. No decrease in supply. * Asia's econonomic turnaround hasn't occured yet. Forecasts are for a turnaround next year. * OPEC hasn't done anything yet. They may or may not cut oil....but it hasn't happened yet. The effect OPEC's proposed production cuts will have does not equate to the reaction the market has had to date. OPEC produces less than half of the world's oil. * The proposed production cut comes at the time of the year when oil demand is lowest. Good luck all. Amigo Sergio

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