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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Frank Pembleton who wrote (2485)	10/7/2001 6:03:05 PM
From: Frank Pembleton	Read Replies (1) \| Respond to of 36161

Global Markets: Muted Stock Selloff Expected on Afghan Attack By Javier David NEW YORK (Reuters) - The U.S. and British-led military strikes against Afghanistan for the Sept. 11 attacks are expected to whipsaw stock markets around the world on Monday, but the widely anticipated nature of the action is likely to temper any sell-offs. A rush to the safest of assets probably will cause investors to park cash in money markets initially, pushing yields on short-dated debt to new lows with the dollar's movements seen mainly following the trajectory of stocks. Oil prices, which are sensitive to sounds of war, are likely to rise, analysts said. The impact on markets from Sunday's strikes against Afghanistan -- in the works since hijacked aircraft crashed into and destroyed the World Trade Center in New York and damaged the Pentagon outside Washington -- will depend largely on the results of the military action. "It is not such a shockingly unexpected event that it will put markets into disarray, but how it unfolds over the next few days will be key," said Anthony Karydakis, senior financial economist at Banc One Capital Markets in Chicago. He expects stock markets worldwide to weaken, with the Dow Jones industrials on Monday selling off by 200 or 300 points, or about 3 percent, at the open. ca.news.yahoo.com

To: Frank Pembleton who wrote (2485)	10/7/2001 6:08:25 PM
From: isopatch	Read Replies (1) \| Respond to of 36161

Frank. Well said. Slider made an excellent bottom call here And we were CORRECTLY bearish on the oil sector all the way down since early January!! Since the end of Sept, thread discourse has largely revolved around covering shorts and selecting long positions. Again, Art's comments make one wonder who he's referring to as "pervasively bearish"? It's certainly not this thread. Isopatch

To: Frank Pembleton who wrote (2485)	10/8/2001 10:41:22 AM
From: Art Bechhoefer	Read Replies (1) \| Respond to of 36161

>>After seeing Bin-Laden give his speech on CNN, we'll see a renewed effort within OPEC for more production cuts.<< Frank, this conclusion makes no sense. The U.S. is getting very good cooperation from OPEC, which includes making sure the price of crude remains stable. The Islamic extremists would like nothing better than to disrupt the flow of oil, creating fear and uncertainty among the consuming nations. The OPEC nations are clearly bent on preventing that, while at the same time allowing for a slightly lower average price to stimulate economic recovery and guard against inflation in world economies. There is no reason, repeat NO REASON to believe that the OPEC countries, particularly Saudi Arabia, Kuwait, and the UAR, are doing anything that would provide aid and comfort to the extremists. Quite the opposite. These countries realize how easy it is for extremism to get out of hand and bring down their own governments. We should be thankful that we're getting such cooperation, and at the same time, we should be pressuring the Israelis to cool it and get back to the negotiating table. Art