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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Voltaire who wrote (7595)	10/12/2000 1:26:49 PM
From: im a survivor	Read Replies (1) \| Respond to of 65232

Tom....you still buying qcom and rmbs ? Personally, they are both killing me right now. Without extending margin, which I will not do, I am unabke to buy and can only watch my earlier buys go deeper and deeper into the red. Keith@almostbroke.com

To: Voltaire who wrote (7595)	10/12/2000 1:37:09 PM
From: Hobie1Kenobe	Respond to of 65232

<<Buy, Buy, Buy>> Sorry Tom, too late - I closed shorts and bought long about an hour ago! ;0) Who knows where the bottom is? Not me. With fingers crossed and stops set, I say "Let's light this candle." JF3

To: Voltaire who wrote (7595)	10/12/2000 1:41:58 PM
From: Annette	Read Replies (2) \| Respond to of 65232

Maybe it is an attempt to beat down Gore....just a thought...

To: Voltaire who wrote (7595)	10/12/2000 2:05:44 PM
From: Jill	Read Replies (1) \| Respond to of 65232

Sorry but today has just gotten to me and I'm in a bad bad mood. I feel like Loffy did yesterday. I've just had it!

To: Voltaire who wrote (7595)	10/12/2000 5:06:29 PM
From: robjohnson	Read Replies (1) \| Respond to of 65232

buying here!

To: Voltaire who wrote (7595)	10/15/2000 8:00:35 PM
From: Voltaire	Respond to of 65232

This pretty well backs up what I was trying to convey. Nothing quite so tickles me as much as EXACERBATED NEGATIVE NEWS THAT DOES NOT HAVE ONE IOTA OF A CHANCE TO MANIFEST ITSELF IN THE NEW " Value for Value Global Economy ". Sunday October 15, 7:15 am Eastern Time Saudi Says OPEC May Act Before November By Rawhi Abeidoh ABU DHABI (Reuters) - Saudi Arabia's Oil Minister Ali al-Naimi said Sunday OPEC was concerned about high oil prices and may act before its November meeting to stabilize the market. Naimi said the oil cartel was working for market stability in cooperation with producers from outside the organization. Asked if OPEC would decide to increase production before its scheduled November 12 meeting, Naimi said: ``Everything is possible, even before the meeting. This depends on the price.'' ``Our aim is to get an average price of $25 a barrel,'' he said an energy conference in the United Arab Emirates. Brent crude oil futures hit a 10-year high of $35.30 on Thursday, amid Israeli-Palestinian violence and the bombing of a U.S. warship in Yemen. Prices were also boosted Thursday by comments from Saudi Crown Prince Abdullah that the world's largest oil exporter would take ``decisive measures'' if Israeli attacks on Palestinians continued. Other Gulf Arab oil ministers attending the conference said the Organization of the Petroleum Exporting Countries must not rush to raise output and attributed recent price hikes to violence in the Middle East. The ministers of the oil-rich region, including the world's largest oil exporter Saudi Arabia, also assured markets that producers would not cut supplies over the Middle East crisis. Asked if Arab producers would cut oil supplies in support of Palestinians in their fight against Israel, Naimi said: ``Let us not talk about this subject. I don't see any use in such talk.'' ``The concern now is with high prices and our efforts are to bring them down,'' Naimi said. Market jitters eased Friday after sources familiar with Saudi thinking said the kingdom would not consider cutting oil exports to punish the United States for what Arabs see as its support for Israel. Brent crude closed down $2 at $32.60 a barrel in London Friday. Naimi Saturday ruled out a cut in oil supplies. PRICE MECHANISM ``If there is demand, OPEC and other producing countries are more than ready to give the market what it needs,'' Naimi said. ``We believe that supply is more than demand today, but we have a mechanism. If the price is above the limit we set then there is no doubt that we will increase supply,'' he added. ``If we say that demand for oil in 2000 is 1.7 million to two million barrels a day we still have 1.5 million barrels excess going to storage,'' Naimi said. ``Eventually inventories are going to rise and we may have to reverse our action,'' he added. He said OPEC's price mechanism would be triggered automatically. Under OPEC's informal price mechanism, which resumed on October 1, if the cartel's crude basket price stays above $28 a barrel for 20 working days or below $22 for 10 working days, crude output will be adjusted by 500,000 bpd either way in a bid to stabilize prices. In the 10 working days since October 1 prices have remained above $28, and if they continue at that level an output rise should be triggered at the end of the month. Naimi said Saudi Arabia would not act alone to raise output. ``I believe supply today is higher than demand, but under the current political and military events...speculators have raised prices on fears of what might happen in the future,'' Naimi said. Asked if regional producers would use oil as a political weapon, Kuwait's Oil Minister Sheikh Saud Nasser al-Sabah told reporters Sunday in Abu Dhabi: ``No.'' He said ``supply and demand are balanced now in the market,'' reiterating Kuwait's position that many producers did not have the capacity to raise production. MARKET PSYCHOLOGY Qatar's Oil Minister Abdullah bin Hamad al-Attiyah told Reuters: ``The current increase in prices is not due to supply and demand, but rather due to psychological reasons following the recent events (the Palestinian-Israeli violence).'' ``Everyone says that the increase in prices is due to psychological reasons. We should not rush. There is a big surplus in the market, about two million barrels a day is going into storage,'' he added. UAE Oil Minister Obaid bin Saif al-Nasseri said in a speech opening the energy conference: ``The oil market is witnessing quick developments...We must monitor it and work to stabilize it around fair prices. ``The security situation in Palestinian territories due to the Israeli attacks has sparked a wave of disturbances...leading to a rise in oil prices,'' he added. Nasseri also said that it was ``premature'' to talk now about raising oil production. The Gulf ministers said they did not see a need for OPEC to meet before November. ``The fear is us pumping more oil and triggering a big drop in prices. I am very afraid of the second quarter next year when a fall in demand will cause prices to fall sharply. We must take that into consideration,'' Attiyah said. Attiyah said he expected oil prices to fall below $22 a barrel in the second quarter of next year, unless OPEC deals with the situation resulting from lower demand. There are two times that man will most certainly make MIGHT IS RIGHT stand up and that is when it concerns WAR or MONEY. That is exactly what we have in the Middle East, countries that now have something to lose also because of the infrastructure cost for the good life. As I said the other day, what you see is real but it is a joke - - There will be no Middle East Crisis large enough to bring down the markets for more than a day or two. There will be no exorbitant OIL PRICE SHOCK. Quit worrying about Euro, remember Asian crisis was going to bring on a recession. It is almost as if the worry warts had rather have empirical evidence of something negative as opposed to something like logic and faith in the positive. Now back to the Yellow Brick Road, V