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To: BigBull who wrote (72468)	9/6/2000 6:00:28 PM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 95453

BigBull, what's you're take on the API inventories?

To: BigBull who wrote (72468)	9/6/2000 6:08:24 PM
From: GREENLAW4-7	Read Replies (3) \| Respond to of 95453

Bigbull do you agree 27-35 was a tough number to get OSX on the recent rally, what do you think takes to get OSX heading south? How about Crude falling to 30. Where will oSX be when crude heads back to 28-30?? Those that believe we go higher from 35, I think you are seriously streaching the ability of Fund managers to agree that 35-40 is in the works. Even if we did it would only be for a short time. I see 97 market reversal in the works. Watch what happens over the next 2-3 weeks. Todays API, and Saudi's recent news that they pumped too much in July and late August equates that crude will be building inventories from this point on. As I recall the bull-fools who predict 40bbl predicted only a .3-.8 increase in inventories. Well it was some 4 Million, and wait until tomorrow and next week. I look forward to watching the OSX TANK when API week, after week, shows inventories building. This is the second week which continues a BEARISH trend, and I do expect a nice pull back tomorrow and Friday going in to OPEC meeting. Next week will, as I predict, will take crude to under 33 again and with that what happens to OSX???

To: BigBull who wrote (72468)	9/6/2000 6:27:04 PM
From: isopatch	Read Replies (1) \| Respond to of 95453

B.B. IMHO, institutional investors are coming under increasing pressure to buy O&G as end of qtr approaches. Unless OPEC really pulls a rabbit out, looks to me like a good chance for classic "feeding frenzy" before Sept is over. That would give us a blow off rally with shorts capitulating. THEN we'd get a good correction. Isopatch

To: BigBull who wrote (72468)	9/7/2000 6:31:05 AM
From: Roebear	Respond to of 95453

BigBull, Shorts could indeed be in serious trouble. I am agreed on your XOI comment, but my charts show a resistance zone from 541 to 547. SecurityTrader has the same zone but for some reason calls 540 key. Penetration of the 541 price, which we have accomplished Wednesday, also happens to be the (bottom measure, top is 547) neckline for an inverse H&S. Target of that formation is about 621! That inverse H&S formation would, were the XOI to penetrate 547 convincingly, in turn would form the right shoulder of a much larger multi year inverse H&S with a measurement to about 670! Some have mentioned that inverse H&S chart patterns are not the most reliable. That may be true to some extent on individual stocks, but they seem to give good indication on the larger indexes. I believe I mentioned these chart measurements on the thread awhile back and indeed they would seem to fit with Larry Crawford and FLC's idea of a 97 rally extended. The key to this kind of performance I believe is continued world economic prosperity. $35 oil at this time is only the equivalent of 19.75 oil in 1982 (using CPI calculator), TEN DOLLARS cheaper than it was then during the start of the greatest Bull Market on earth. Plus all the yada yada about how oil is a smaller part of our economy now and no wonder, now we have someone else overseas doing a lot of the manufacturing, the production thereof we then import! Consequently, Asia is once again a key component of bullish oil . Please keep us posted on their progress as you did so admirably, back before the dawn of this oil bull. Best Regards, Roebear