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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (33776)	9/29/2000 11:09:31 AM
From: PMG	Read Replies (1) \| Respond to of 50167

bought some Dec AAPL 40 calls in the morning... I hope for a recovery to 30 or so... PMG

To: IQBAL LATIF who wrote (33776)	9/29/2000 11:15:48 AM
From: Jerry Olson	Respond to of 50167

Ike i was daytrading the stock 2 times today for 4 points total.. shorted BLUE at the close at 42 covered at 38..i am done for the day<VBG>.. this was an amazing week... Jenna called RIMM yesterday..for a hold overnight..it's up 18!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! i am having the time of my life now<G> not investing yet...

To: IQBAL LATIF who wrote (33776)	9/29/2000 11:15:50 AM
From: Peace	Respond to of 50167

LONDON -- Organization of Petroleum Exporting Countries heavyweight Saudi Arabia is prepared to use its spare oil production capacity to moderate prices, and can expand its capacity if needed, said the Kingdom's Oil Minister, Ali Naimi, in an interview published Friday. Speaking at the close of an OPEC summit in Caracas, Naimi added that, while it was up to individual governments to decide whether to tap into their oil reserves, global crude supply is outpacing demand by about 1.8 million barrels a day. "If these numbers are correct, inventories are going to build. Give it time," Naimi said in an interview published by the Middle East Economic Survey. OPEC, excluding Iraq, has increased its production target three times this year bya total of 3.2 million barrels a day, yet crude oil prices have been slow to move off their 10-year highs. Producers say taxes, market speculators and refining bottlenecks are responsible for high prices, not supplies. OPEC took no decision on production policy at the Caracas summit, which concluded Thursday. The producers are scheduled to meet Nov. 12 in Vienna to review market conditions. Concerned about a possible heating oil shortage this winter, President Bill Clinton last week ordered the release of 30 million barrels from the U.S. Strategic Petroleum Reserve. Some European Union leaders are pushing for a similar move. Naimi said that, while tapping oil reserves remains "a sovereign right," OPEC reserves the right to act to keep prices within the group's target range of $22-$28/bbl. Benchmark North Sea Brent futures were trading at just under $30/bbl Friday after striking new 10-year highs earlier this month. Naimi said Saudi Arabia is producing 8.5 million b/d, about 250,000 b/d over its OPEC target. Saudi Arabia's target rises to 8.512 million b/d Oct. 1. The Kingdom can reach its production limit of 10.5 million b/d in 90 days, he added. And with 261 billion bbl of reserves, expanding capacity is no problem. "This is not space technology," Naimi said, "it's something we've been doing for the past 60 years." Naimi said the Kingdom is prepared to use its spare capacity to stabilize prices, but not in the role of a swing producer. The last time Saudi Arabia unilaterally increased production, it was forced to take proportionately-larger output cuts when prices fell. "We are not in the business of being a swing producer," Naimi said. "We work within an organization." Naimi also said he's looking forward to a November conference in Riyadh for the opportunity to expand the dialog between oil producers and consuming nations. "I think that by sitting together we will avoid blaming each other," Naimi said. "Instead of us saying its taxes that are burdening the consumer and the consumer saying its high crude prices...we can agree to clarify."