Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Natural Resource Stocks -- Ignore unavailable to you. Want to Upgrade?

To: c.hinton who wrote (10779)	5/1/2004 2:42:47 PM
From: c.hinton	Respond to of 108880

Iran fears sharp drop in oil prices Despite run-up in crude oil prices, OPEC giant says oversupply threatens downturn. May 1, 2004: 9:56 AM EDT ITEHRAN (Reuters) - High-flying oil prices could fall suddenly thanks to buoyant reserves filled by more than three million barrels per day of oversupply, Iranian oil minister Bijan Zanganeh said on Saturday. Zanganeh, oil minister of OPEC's second biggest producer, has attributed high prices to a shortage of refinery capacity in the United States and political tensions in the Middle East. "I am concerned the oil price could fall suddenly," he told reporters at a Tehran petrochemicals conference, saying there were three to 3.5 million barrels of daily oversupply. "Reserves are becoming full," he added. Zanganeh reiterated his view that OPEC's price band should not be changed, expressing his preference for prices at the higher end of the $22-$28 target. OPEC president Purnomo Yusgiantoro has said the cartel was considering raising this bracket, but gave no value for a new range. Related story • Oil prices hit 3 1/2 year peak Nigeria has said it should be lifted to $25-$32. Last week Zanganeh told reporters he saw no need to lift the target price but said he favored prices towards $28. Iran, with its population of around 66 million, is traditionally a price hawk. Ali Al-Naimi, oil minister of top OPEC power Saudi Arabia, has said the kingdom was still committed to the $22-$28 bracket. The OPEC price basket has been above its target for all but one working day since November. NYMEX crude settled at $37.38 a barrel on Friday. Zanganeh also told reporters there was a strong interest from U.S. companies to invest in Iran's huge hydrocarbon wealth, saying sanctions against the Islamic Republic hurt both sides. "When there is no competition we are harmed as well," he said. Major U.S. companies such as Halliburton and General Electric have found opportunities in Iran through their European subsidiaries.

To: c.hinton who wrote (10779)	5/1/2004 3:49:02 PM
From: Little Joe	Read Replies (2) \| Respond to of 108880

How do you resolve your comfort with natural gas with the notion that deflation coming, especially your view that deflation will hit oil. Little joe

To: c.hinton who wrote (10779)	5/1/2004 6:53:27 PM
From: jimsioi	Read Replies (1) \| Respond to of 108880

Story about shootings in SA This has serious implications and continues a trend of increasing violence.... I see this link now on ABC News abcnews.go.com May provide a little pop in miners Monday, but unless Gold gets over Friday's high, moving up to a challenge of the short term downtrend line at $397 and holds, I suspect it's a selling opportunity in miners....again...Iran story about Crude would seemingly set the stage for a retreat in Crude following it's weakish close Friday, but we'll see....Cross currents here are hard to rationalize into a strategy...but CASH likely will most likely continue in the role of KING... Prefer the metal position as provided in CEF holdings to miners.... June Gold futures.tradingcharts.com Accelerated uptrend line in June Crude comes in at $37 futures.tradingcharts.com Have to be looking to liquidate the more oily E&Ps in portfolio and weaker NG items if we start to see a break...figuring this strong sector will correct with what seems to be brewing as a dark MONDAY for general equities. DXE Weekly stockcharts.com[h,a]wcclynay[de][pc40!c10!c20!f][iut!up14,3,3!ue12,26,9!lb14!ll14!ld20!lya7,14,28]&pref=G