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To: John Madarasz who wrote (38972)	5/13/2002 7:26:53 PM
From: marginmike	Read Replies (1) \| Respond to of 209892

I am long Oil but there is no fundimental reason for oil to rally if we are going to double dip, except if we are heading into an inflationary period. why on earth did oil go up today?

To: John Madarasz who wrote (38972)	5/14/2002 12:32:02 PM
From: John Pitera	Read Replies (1) \| Respond to of 209892

John, notice how the price of crude is right at the apex of the symmetrical triangle that you have constructed with the dotted yellow uptrend line and the pink solid downtrend line. This would be a last chance area for Crude to top out, but based on the bullish nature of the price advance of crude, Gold and the CRB this past year it looks like the major trend is up, as we've talked about. That makes even more sense in view of the aggressive Fed expansion of the monetary aggregates AND the technical direction of the USD over the next 6 to 9 months, which appears to be lower. John