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

To: ldo79 who wrote (55779)	12/1/1999 2:52:00 PM
From: ldo79	Respond to of 95453

Maybe somebody's catching on: "Natural Gas Rises on Speculation of Cold Weather, More Demand New York, Dec. 1 (Bloomberg) -- Natural gas rose more than 3 percent, the biggest gain in more than two weeks, on speculation that the weather will be colder than government forecasts in parts of the U.S. where the fuel is used for home heating. ``The jet stream is changing more toward a winter pattern,' said Susannah Hardesty, president of Energy Research and Trading Inc., a natural gas industry consultant in Greencastle, Indiana. Speculation about a cold spell comes after prices fell 16 percent in November, as mild weather left demand sluggish and storage depots full. As recently as two days ago, the National Weather Service forecast above-normal temperatures Dec. 5-9 in the Midwest and Northeast, the top markets for heating fuels. Natural gas for January delivery at the Henry Hub in Louisiana rose as much as 8.1 cents, or 3.5 percent, to $2.385 per million British thermal units on the New York Mercantile Exchange, the biggest gain since Nov. 12. Prices are about 20 percent higher than a year ago. While some forecasters say the chances of a return to seasonably cold weather are low, some traders are betting temperatures will fall enough to drain inventories. The National Weather Service will issue its next six- to 10-day forecast later today. U.S. gas inventories in an American Gas Association weekly report probably fell slightly last week, according to traders and analysts surveyed by Bloomberg. Supplies probably dropped 9 billion cubic feet to 2.99 trillion cubic feet, 2.8 percent lower than last year, the analysts said. Stockpiles rose by 8 billion cubic feet during the same week last year, when the weather was unusually mild. The industry group will release its storage report today after 4 p.m. U.S. eastern time. -------------------------------------------------------------------------------- ¸ Copyright 1999, Bloomberg L.P. All Rights Reserved.

To: ldo79 who wrote (55779)	12/1/1999 2:53:00 PM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 95453

According to the wash sale rules we'll cut and run on the E&P's around Dec 8th. The last major drop in the E&P's was around Nov 8th in the XNG. Let's see if the same holds true of this subsector which held true with the OSX. Dec 8th - Another API report. Cold weather. Wash rules over. Sector rotation... XNG chart: timely.com hmmmm, Not soon enough, but I'll take it. We saw the OSX take flight a few days early as people jumped ahead of the traders. Maybe the same will happen here. Blowout/scare on friday and then the recovery and next run starting next week.