Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: SliderOnTheBlack who wrote (75671)	10/5/2000 12:41:31 PM
From: warren harris	Respond to of 95453

Thursday October 5, 12:38 pm Eastern Time Chicago gasoline gains on Marathon Ashland outage talk NEW YORK, Oct 5 (Reuters) - Chicago cash gasoline prices jumped about 1.25 cents a gallon Thursday on rumours of heavy buying by Marathon Ashland Petroleum (MAP) (NYSE:MRO - news) (NYSE:ASH - news), said to have shut two Midwest refineries for maintenance, traders said. Industry sources say independent U.S. refiner MAP has closed its 166,000 barrel per day (bpd) Robinson, Ill. plant and its 70,000 bpd Detroit, Ill. refinery for routine turnarounds at the end of September. biz.yahoo.com

To: SliderOnTheBlack who wrote (75671)	10/5/2000 12:54:28 PM
From: Winkman777	Respond to of 95453

I'm a buyer today. Esp. FLC at 26 1/8. Look at drop today and its lack of parity with 1/2 RIG. Have the fundamentals changed here? No imho. SPR release of 30mmbl and next year's refill of 31.5 seems to have had the desired effect of lowering crude here (and reducing backwardation). Both good for the drillers in the LT. Also good for the country to have 1.5 mmbl more in SPR. And it has given us 2 more buying ops (9/25 and today). Good luck all. Winkman

To: SliderOnTheBlack who wrote (75671)	10/5/2000 1:04:06 PM
From: ItsAllCyclical	Respond to of 95453

Wall Street Braces for More Warnings biz.yahoo.com By Janet McGurty NEW YORK (Reuters) - Shell-shocked investors, already hit by a series of profit warnings from major U.S. companies in recent weeks, should brace for more bad news to come, analysts said. When much of corporate America reports third-quarter results over the next month, the main focus is likely to be the outlook for profitability in the fourth quarter and into 2001. Much of the bad news for the third quarter is already out, but there are likely to be shocks to come as some companies come clean about prospects down the road. They are facing potential blows from three main sources -- increasing signs the U.S. economy is slowing down, the low euro and high energy costs. ``All three of these are likely to have an even bigger impact in the fourth quarter,'' said Chuck Hill, director of research at First Call/Thomson Financial. ``The risk of earnings being much lower than expected in the fourth quarter and 2001 have gone up considerably.'' ``Basically the fourth quarter comes down to a continued economic slowdown and the effect of currency, which we don't know yet. ... If the economy continues to exhibit signs of slowdown, we are going to have more earnings disappointments,'' said Larry Rice, chief investment officer at Josephthal Lyon Ross. ``We expect great results for the third quarter...I think it will come in about 18 or 19 percent.'' said Joseph Kalinowski, equity strategist at I/B/E/S. On the other hand, forecasts for the fourth quarter are likely to be cut further over the next few weeks, said Hill. There is a risk the consensus profit growth forecast could drop as low as 10 percent, he warned. To be sure, Kalinowski said the picture could brighten if the euro stabilizes and oil begins to head lower as major oil producing nations boost production. Some of the increased earnings warnings may be because of impending implementation of fair disclosure regulation, on Oct. 23, some analysts said. Those regulations will prevent companies from privately guiding analysts to change their estimates without making public announcements and many companies have been already changing policy to meet the new rules. ``The new move to limit disclosure is going to create a lot more volatility in the market.. a lot more surprises both positive and negative,'' Josephthal's Rice said. ------------------------------------------------- This article summarizes why I feel Nasdaq 2500 will come sometime in the next 6 months - maybe a lot sooner. I think people are so conditioned to buy the dips though it may take a while for people to wake up to the new reality in techs - bear markets do exist. Go back and look at the Nikki over 10 years. I don't think 5000 will be a 10 year high for techs, but even if it's the high for only 2-3 years the mindset of tech investors will change completely. From the article... >> To be sure, Kalinowski said the picture could brighten if the euro stabilizes and oil begins to head lower as major oil producing nations boost production. << Lower oil prices and simulanteous inflows into beaten down tech is probably the biggest ST liability to the oil patch. Oil prices could certainly go lower and the Slider has already talked about the euro bottoming. So techs will probably bounce at some point. I just don't see that bounce as sustainable.