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To: John Pitera who wrote (67222)	10/7/1999 4:09:00 PM
From: wlheatmoon	Read Replies (1) \| Respond to of 86076

john, oil has certainly taken a beating again....it's such a seasonal and regulated (OPEC) or manipulated commodity... i just looked at the transports vs. s&p chart,,,looks very very interesting....they run neck and neck on the max timeframe on yahoo....lately,,,the transports sure have diverged from the s&p's....the question is if the transports have legs to catch up or the major indices have lead in their bellies.... longer term,,they're certainly attractive buys and have been beaten down.... thanks for bring them up. mike

To: John Pitera who wrote (67222)	10/7/1999 4:11:00 PM
From: bill meehan	Read Replies (1) \| Respond to of 86076

John, FWIW I think we can hold the $22 area basis Nov.

To: John Pitera who wrote (67222)	10/7/1999 4:40:00 PM
From: pater tenebrarum	Respond to of 86076

John, don't you think that the upcoming winter season and the Y2K disruptions could lead to another price spike in crude later this year? it seems that Iraq for instance plans to simply shut down all oil-related facilities around the date change. and i can't imagine that Iraq will be the only producer with problems. what's more, we haven't had a really cold winter in a long time...statistically it is about time we got one. another thing that takes me aback a bit is that so many people are calling for the top in crude to be in. let's not forget that not only the supply situation seems to be well in hand right now, but demand is clearly improving as well with the global economic upswing. admittedly i'm also tempted by the airlines since they have been clobbered so much...but what if a bear market has begun? (i know, outlawed<g>) they could conceivably get a lot cheaper...anyhow, you're right that Roque's work is quite intriguing. hb