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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: A. Geiche who wrote (49880)	8/25/1999 10:13:00 PM
From: JoeDi1213	Read Replies (1) \| Respond to of 95453

The majority of CTA have propriatary computer generated trading systems. It tells them when to buy and when to sell futures. They often talk about how the human emotion is taken out of the equation. The models with the earliest buys and sells do better then the others. It's much different then being a stock picker. It all based off charts and techincals. How crazy can it be to be short crude at $10 a bbl, or gold at $260 per oz? Well to a computer I guess it isn't. They had a great ride down from the low $20's. The models are all trend following systems with stops and some stop and reverse positions. If the market pulls itself together over the next week or so, they be piling back in because the longer term trend is still higher. I see worse case the closing a gap in the $18.70 area, still a good price for the oil companies. Nat Gas fell in sympathy with crude and unleaded. Unleaded was the main culprit of the selloff today but isn't it interesting that over the next month imports and going to drop and we are going into the fall refinery turn around season. I don't see unleaded falling apart but remaining fairly strong through the fall