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

To: ItsAllCyclical who wrote (71970)	8/29/2000 6:44:18 PM
From: BigBull	Read Replies (2) \| Respond to of 95453

JimL Re, API's Product is still the main problem. The HO build was utterly pathetic. Not nearly enough. Gasoline continues to follow the seasonal trend down. Gasoline stock depletion is accelerating and will probably dip below lower operational levels through labor day. The crude build brings the stocks up to about the DOE levels which is still way low. IMO the report was neutral to slightly bearish. What it does highlight is the relentless and ongoing need for refining. To keep product (the stuff we actually use) levels from declining to precipitous levels, we simply cannot afford any refinery maintenance season. We may see some selling crude and some light profit taking in HO with gasoline continuing it's recent breakout. Good technical support for crude in the 31 area. Continuing bull in gasoline. HO? Don't have a clue. It's run has been absolutely spectacular so some profit taking is normal and well in order. I expect a pull back in the OSX to around 125. If it's fairly light selling I've got my shopping list ready and buy zones picked out. Maybe I'll get lucky! ;O}