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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: Think4Yourself who wrote (2780)	4/3/2001 5:24:42 PM
From: excardog	Read Replies (2) \| Respond to of 23153

DJ IPE Close: Brent Rises On Strength of US Gasoline NEW YORK (Dow Jones)--Brent Blend futures rose sharply Tuesday at London's International Petroleum Exchange as gasoline futures soared in New York on spot shortages and ahead of inventory data which is expected to show a drawdown in U.S. gasoline stockpiles, brokers said. May Brent Blend futures surged 66 cents to $24.77 a barrel, after trading between $24.16/bbl and $24.80/bbl. June Brent Blend futures rose 50 cents to $24.85/bbl, after trading between $24.40/bbl and $24.95/bbl. Brent climbed on the strength of a rally in U.S. gasoline and heating oil futures, traders said. However Tuesday, New York Mercantile Exchange products futures rose on the stronger cash markets. U.S.-based analysts said the "undervalued" gasoline futures price was being brought in line with the strength seen on the spot market, which Tuesday rose in the New York Harbor as much as 18 to 21 cents over the Nymex screen. "The U.S. gasoline buying pulled the whole complex up," said one IPE broker. Although futures were already trading higher, prices found additional support after a senior Venezuelan official reaffirmed OPEC's intention to cut production by 500,000 barrels a day if its basket price of reference crudes fell below $22 for 10 consecutive days. The basket price fell to $22.53 Monday. Venezuelan Deputy Oil Minister Bernardo Alvarez said Tuesday he expects his country to comply with its portion of OPEC's latest output cut - which went into effect April 1 - and reduce production by 116,000 b/d this month. "We've been preparing for this, so maybe before the end of the month we can have the cuts in place," Alvarez said. Stock data from the American Petroleum Institute released late Tuesday will also be very closely watched for an indication of gasoline stocks, brokers said. Analysts mostly expect the report to show an increase of 3.125 million barrels in crude stocks, a draw of 1.5 million bbl in gasoline inventories and a decline of 1.25 million bbl in stocks of distillates, which include heating oil. Gasoil traded 29,584 lots, including 2,380 exchange-for-physicals. Price action Wednesday will largely be determined by inventory data, with expected bearish crude oil stocks data weighing against expected supportive products supplies. Gasoil futures closed higher with Brent crude in the U.S. on rising refined products futures. Front month April gasoil rose $1.50 to $208.50 a metric ton. May gasoil futures ended 75 cents higher at $204.75/ton. Gasoil traded 29,584 lots, including 2,380 exchange-for-physicals. Brent traded 73,241 lots, including 4,128 EFPs. -By Marie Sanchez, Dow Jones Newswires; 201-938-2062; Marie.C.Sanchez@dowjones.com (END) Dow Jones Newswires 03-04-01

To: Think4Yourself who wrote (2780)	4/3/2001 6:39:18 PM
From: The Ox	Read Replies (1) \| Respond to of 23153

Add to the mix a lot of cheap, used equipment that's readily available from failed dot.bombs and similar defunct companies. I wonder what % of Sun systems sold in the past couple of years are now on the shelves of reseller's warehouses. Start with the pie in the sky projections from early last year, add a heap of additional capacity to accommodate the flood of 'new' business, toss in high energy costs (or lack of energy as in CA), and a pinch of recession and we have cooked up a mighty tech-slowdown stew. Just heat it up on the tight monetary policy stovetop the FED has created. Unlike some who fail to see a phoenix rising from the ashes, I think there will be a solid future for many of the companies that are being discounted by today's market. We are still seeing people lump all companies from a weak sector together as worthless. Anyone think we start to rally as soon as earnings season starts?