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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Tommaso who wrote (6406)	2/1/2002 4:43:47 PM
From: jim_p	Respond to of 206093

The energy markets closed sharply higher on Friday in a knee-jerk reaction to news that Kuwait has lost production of 600,000 barrels per day due to a fire at its Rawdatian oil field on Thursday. However, Kuwait indicated that there will be no shortage as oil from stockpiles will replaced the halted production until its other oil fields can raise their production to compensate for this loss. March crude oil posted a new high close for the week on Friday thereby renewing its rebound off the mid-January low. Momentum indicators remain bullish signaling that sideways to higher prices are possible during the first half of February. Additional strength on Monday is needed to confirm today's breakout above the previous reaction high. If today's breakout is confirmed the door would be opened for a possible test of the upper boundary of this winter's trading range crossing at 22.50 later this month. March heating oil closed sharply higher on Friday in reaction to the oilfield explosion in Kuwait on Thursday. Today's close above minor trading range resistance crossing at 54.30 confirms that a triple bottom was posted with Wednesday's low while opening the door for additional short covering during the first half of February. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Longer-term, I am looking for a possible test of the double top crossing at 59.20. March unleaded gas closed into new highs for the week on Friday. Additional strength on Monday is needed to confirm today's breakout above the previous reaction high crossing at 59.90. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible. Longer-term I am looking for a possible test of January's high crossing at 64.35. March Henry Hub natural gas closed steady on Friday but remains above this winter's initial downtrend line crossing near 2.08. Closes above broken support crossing at 2.155 are needed to confirm this week's trendline breakout, which would then open the door for a larger-degree rebound during February. Momentum indicators have turned bullish signaling that sideways to higher prices are possible near-term.

To: Tommaso who wrote (6406)	2/2/2002 7:43:36 AM
From: GREENLAW4-7	Read Replies (1) \| Respond to of 206093

Rise in crude was caused by 2 factors: Explosion at Kuwait refinery, as well as possible STRIKE by US refinery workers. I believe CBS/MW has an article under the OSX heading. I covered all shorts, and added HC long at EOD on the perception crude may have seen its near term bottom and also hopeing that INVENTORY stats will finally show the DRAW from OPEC resolve. I mentioned several times that INVENTORY stats usually go in cycles either up down or flat. Its now been 4 weeks since OPEC started to cut and I am betting on some type of DRAW in inventories going forward. Also if you believe market may trend lower over next 3-5 months on earnings concern, what better place to park some funds then in ENERGY on the premis SUMMER is only 5 months away. Technically money flow has been increasing nicely in the OSX. Look at recent rally and pull-back, I see higher lows and a small trend starting to the upside. Just my opinion, but in many of these stocks the down side may be very limited w/ tremendous upside. The last factor that has turned me into an OSX semi-bull is the possibility of all out WAR in the middle-east w/in next 3-5 months. BUSH needs excuse to enter IRAQ, ann this is why he is backing ISRAEL on finishing ARAFAT off. Good luck all!!