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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 659.00

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Nov 21 4:00 PM EST

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To: Lee Lichterman III who wrote (12249)	4/28/1999 2:50:00 PM
From: pater tenebrarum	Read Replies (1) of 99985

Lee, there is a theory on why the transports can move together with the oils. it has to do with the recent increases in fares. apparently the additional revenue thus created more than compensates for the increase in fuel costs. i also think that the rise in crude is more demand-related than most people suppose at this time. there must be a reason why crude,copper, the gaming index and asian stock markets are all moving up at the same time. the markets seem to anticipate that the asian recovery is for real. and that would be great news for airlines, far outweighing the fuel cost factor. of course, if crude were to move beyond $20/bbl.,all bets are off. regards, hb

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