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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Bosco who wrote (5466)	9/22/2000 8:24:17 PM
From: Logain Ablar	Respond to of 30051

Bosco: On the oil it helps Al to get elected. It will help drive down the price of oil. We import appx 10Mb/day so 10% is pretty significant. You have a good point on refinery utilization. We've lost over 30 in the last 8 years and due to environmental and superfund issues no new ones have come on line in US. So with 95% utilization what happens with the 1m barrels. We'll I'd assume they now go to Europe vs. here. Oil has been signaling a top for over a week. Natural gas is another story. The service and natural gas companies are the investment in this area at the momment vs. the oil companies (at least until they near the time to stop releasing from the reserve). See my post to bp for some stocks in this area. On b2b I've been pointing out CMRC since end of August. Still plenty of room to run and its at resistance now. Maybe a pull back maybe not. The NAZ had a lot of money come in the afternoon. Tim