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To: isopatch who wrote (71797)	8/28/2000 10:06:23 AM
From: The Ox	Respond to of 95453

I agree, Iso. Here's more from Ven: Venezuela Wants "Fair" Oil Price, Not $40 a Barrel CARACAS, Aug 27 (Reuters) - Venezuelan President Hugo Chavez said Sunday that "fair" oil prices remain an economic life-line for the world's third largest petroleum exporter, but insisted he did not want to see crude reach $40 a barrel. Left-leaning Chavez, who will host a heads of state meeting of the Organisation of Petroleum Exporting Countries (OPEC) next month in Caracas, reiterated Venezuela had placed its full backing behind an OPEC price band system to moderate volatile crude prices. The 11-member cartel has come under strong pressure in recent months from the United States, the world's top oil consumer, and the European Union to raise output to reduce sizzling petroleum prices. At over $30 a barrel, oil is currently near its highest level in a decade. "We repeat to the world that we will not give in to pressure from anyone to reduce oil prices," Chavez said during a five-hour edition of his radio talk show "Hello President". "But neither do we want to raise oil prices to $40 a barrel," he added. "We have established a price band between $28 and $22 a barrel, and prices should be between there." The price band mechanism informally agreed by OPEC in June calls for a 500,000 barrel a day increase if the price of OPEC's basket of seven crudes stays above $28 a barrel for 20 working days. Recalling that low oil prices had almost bankrupted the state when he took office in February 1999, Chavez said that both his recent tour of OPEC nations and the forthcoming summit in Caracas were aimed at ensuring prices remain "fair". "For now, and in coming years, our lives depend on that, until we have a more solid, more diversified economy," said the former paratrooper turned president. Under Chavez's 19-month-old government Venezuela has transformed itself from OPEC's biggest quota buster into the strongest advocate of the fractious group's output ceilings, contributing to the rise in international oil prices.

To: isopatch who wrote (71797)	8/28/2000 10:22:49 AM
From: isopatch	Read Replies (2) \| Respond to of 95453

4 snapshots of a key index. Excuse the url overkill<g>, but arranging the XOI charts deductively starting with the positive wkly to the others which argue for a bit of a dip, give use a nice top down look at some of the TA here. siliconinvestor.com Understandably we bounced hard off overhead res @ 540. But my guess is that worst stoc will print is is a higher lo. siliconinvestor.com Daily has turned down signaling a bit more downside ST. siliconinvestor.com siliconinvestor.com Hourly and 30 min are dickering about whether: 1. She breaks 519? A good bet because it would piss off the most longs<g>. 2. We hold 520? Fiddle around a bit, then turn and rally. 3. She holds right here circa 524? If so that would signal this intermediate rally is even more powerful than ole isopatch thinks. Well pick yer poison troops, lol. My bet is that this intermediate rally is NOT over regardless of ST wiggles. But, we about to step into the "never a dull moment" month of Sept during an election year! Could be a field day for wipsaws, directly ahead. Stay cool... Cheers Isopatch