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Strategies & Market Trends : Paint The Table -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (9895)	1/11/2002 11:22:51 PM
From: Junkyardawg	Respond to of 23786

Crude oil broke back below $20 a barrel again today. bloomberg.com I do not believe Opec is going to be able to keep oil prices up. Everything they are trying is failing. Most of the world is in a recession or worse and the countries that can sell more oil too make more money will simply do it. Opec has been screaming for months they are going to lower production and each time they do the oil futures barely notice (maybe small jumps on the news). Each report that comes out tells of more and more supply/inventory is being built up. With Air travel at the worst level in years and people doing less traveling oil is no longer in as much demand. I think this time next year Oil will be under $15 a barrel and with the new technologies coming in 5 to 10 years OPEC may be a distant memory. I know what you are going to say now....if that is my thinking then why am I bullish? I am bullish because I think we are on the brink of another bull market. Not only was new technology and easy money a factor for the last bull market but Oil and energy prices were a factor in the bull market as well. Oil was very cheap for a long time and I think it is headed there again. dawg