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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Yorikke who wrote (5070)	11/16/2001 9:57:32 AM
From: John Pitera	Respond to of 33421

Mike, both are good points, I've been trying to find the Barron's interview from this past year with the Oil analyst, who did a really great job of explaining the long lag time between Producers actions and the long interval until those actions are reflected in the markets. On May 24th of this year, the June Unleaded Gas contract traded at 117.50, and all time record high price. Yesterday, we had fallen all the way to 48.00 cents basis the nearby most actively traded Dec contract. That's the most volatility in the history of the NyMex contract, unless I'm mistaken. It is a 60% decline, so interestingly we could see some stabilization at a 61.8% decline. John