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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (8698)	6/7/2001 9:50:03 AM
From: isopatch	Respond to of 52237

Pertinent Energy news from CBS Marketwatch "OPEC leaves oil output unchanged; U.S. supplies rise A sharp increase in U.S. supplies of crude oil and gasoline pressured petroleum futures prices in after-hours trading Tuesday, just hours after OPEC decided to leave its output levels unchanged. The American Petroleum Institute reported a 3.4 million-barrel rise in crude inventories as of the week ended June 1. On average, analysts polled by Bridge News expected a drop of 1 million to 3 million barrels. Gasoline and distillate inventories also rose by 3.2 million and 4.1 million barrels, respectively, the API said, as refinery production rates rose by nearly two percentage points to 97.1 percent of capacity. Prior to the release of the API data, OPEC members agreed to leave its production quota of 24.2 million barrels per day unchanged, but set an extraordinary meeting for July 3 because of Iraq's halt Monday on crude exports. Merrill Lynch recommends energy stocks Merrill Lynch recommended Tuesday that investors take advantage of the weakness in "energy merchant conglomerate" stocks, such as Enron (ENE: news, msgs, alerts) , Dynegy (DYN: news, msgs, alerts) , El Paso (EPG: news, msgs, alerts) and Williams (WMB: news, msgs, alerts) . "Seasoned investors that step up and take advantage of the weakness should be handsomely rewarded over the next 12 months or so," a note from the brokerage said, emphasizing that even if its estimates are only half right, the group should still see a 21 percent upside. California has been laying blame on the power providers for the high energy prices and settlement of allegations of manipulation and abuse on the spot wholesale markets is "rarely swift" in the legal system, Merrill Lynch said. But with earnings per share growth rates "strongly intact ... it is exactly during these periods of weakness that we would be choosing our entry points." cbs.marketwatch.com