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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Crimson Ghost who wrote (44276)	3/28/2000 5:28:00 PM
From: pater tenebrarum	Respond to of 99985

the transports were deeply oversold...in the meantime a lot of the bad news has probably been reflected in the stocks. however, you'll have to keep a close eye on the economy...an economic downturn would kill the trannies, in spite of lower fuel costs. OPEC is about to buckle big...1,7 m. bpd. plus their daily cheat of 1 m. bbl. makes 2,7 m. bpd. in additional oil supply. my bet is that they have timed the increase particularly badly. it comes on the heels of the IMF forecasting an acceleration in global economic growth to 4% p.a. based on the IMF's stellar forecasting record i have to assume we're on the doorstep of a global recession...not good for oil...<g> regards, hb