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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (30835)	3/7/2000 9:31:00 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 50167

A comment about the longer term view of crude oil... Message 13021689 The CRB Index: commoditiesfutures.com GZ

To: IQBAL LATIF who wrote (30835)	3/8/2000 9:23:00 AM
From: IQBAL LATIF	Respond to of 50167

<<Yesterday witnessed what is best described as an 'attack on investor sensibilities'. Watching Procter and Gamble open on a huge downside gap way out of proporation to reality, demonstrates again the power that exists to indiscriminately manipulate share prices. It is also a license to steal. Well, what else is new? Of course, you know I was a bit bearish anyway, looking for a decline, as discussed in Monday and Tuesday's commentary. Going down is not what bothers me. It's how they do it. Overall, this decline is part and parcel to unfinished business left from February 25 and should result in further weakness, though not necessarily anything catastrophic. A downside gap in the S&P, next Friday's triple witching expiration, Alan Greenspan's hawkish speech, a short-term overbought condition in the markets, and a cycle 'change point' in my work over the weekend I guess all came together with a vengeance. However, all is not bleak. Yesterday was a positive for the semiconductor (SOX Index), gold shares, oil and oil service stocks, select technology including Microsoft (MSFT). It's still too early to call a 'turn' in the gold shares, but I'm glad we're fully invested. Should the XAU Index breakout above 72.50, we may really be off to the races. Triton Energy (OIL) has been the subject of takeover rumors well into the 50s or 60s and our work confirms higher prices as well. Whether all oil stocks will perform that well is to be seen.