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To: Gary Burton who wrote (55491)	11/26/1999 10:37:00 PM
From: Gary Burton	Read Replies (2) \| Respond to of 95453

As I see it, the question becomes-"will crude top out and embark on its necessary material correction (after wave 5) BEFORE the upturn in NG gets going off the current low?"---My sense is that Gas is likely a little closer to turning up than crude is to turning down from its interim peak for this cycle ($10 to $30ish) So, there is likely a window of opportunity of perhaps fairly short duration during which both oil and gas could be rising simultaneously and this would be the time to see most e&p stocks jump. Once oil starts down into its partial retracement of the $20 gain off its $10ish low, it will likely act like the same drag that NG has been while crude was rising....Bottom line, the window for material gains may be quite short, but a window nevertheless. This window might even start next week, Maybe no new highs though as the window may shut fairly soon after opening, once crude starts down?---just a hunch---Slider/BB et all-any thoughts on this scenario?

To: Gary Burton who wrote (55491)	11/27/1999 6:02:00 AM
From: Crimson Ghost	Read Replies (1) \| Respond to of 95453

Gary: Your scenario for crude and oil shares makes a lot of sense. My gut feeling is that the next MAJOR AND SUSTAINED upmove in the OSX will not occcur until crude has come down and people feel it has bottomed. Very bullish oil trader sentiment as revealed in recent MARKET VANE surveys is another signal that a significant top in crude is close at hand.

To: Gary Burton who wrote (55491)	11/27/1999 6:10:00 AM
From: Roebear	Respond to of 95453

Gary, The NAO (caveat, still my non formular measurements) maintains its recent reduction in positive reading, still about 20% positive to zero line. Based on current forecasts, I am expecting Mid Atlantic heating degree days, currently 18% below normal (=less HO, NG usage, warmer temps) to decrease to 11-12% below normal in six days, end of Dec 2nd. My last forecast for the last 5-6 days was for 15% below htg degree days normal, vs the 18% we resulted in. Edit, this puts our current average temperature levels a bit more than 6% above last years warm levels, this will of course also decrease over the next six days. Best Regards, Roebear