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

To: Frank Pembleton who wrote (5999)	1/3/2002 10:34:21 AM
From: Frank Pembleton	Read Replies (1) \| Respond to of 36161

--GRUB--

To: Frank Pembleton who wrote (5999)	1/3/2002 11:28:29 AM
From: isopatch	Read Replies (1) \| Respond to of 36161

Energy read from INO Wednesday <The energy markets closed higher on Wednesday with the exception of natural gas. The start of the new year with most traders at their desk today triggered short covering rebounds in crude oil and its products following last week's announced production cut of 2 million barrels of crude oil per day by OPEC and non-OPEC nations. Today's strong rebounds suggest that additional strength in crude and its products is possible during the first half of January. Weekly charts indicate major bottoms were likely been posted in November. February crude oil closed higher on Wednesday as it erased all of its losses of the past two trading sessions. Wednesday's high-range close sets the stage for a test of last week's high crossing at 21.50. Closes above this resistance level would renew its rebound off its fall lows and set the stage for a test November's high at 22.83 in early-January. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term.> Hey thread. Like the way the sm cap gassers are showing superior relative strength vs both the lg caps and NG itself. Next wave of cold = another rocket ride.<g> Buy good near term dips in the sm gassers and your fav oil service plays for 4-8 week hold. Isopatch