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

To: Roebear who wrote (20656)1/31/2005 8:36:38 AM
From: Arik T.G.  Read Replies (1) | Respond to of 108678
 
Thanks, Roebear.

The March contract has first delivery on March 1st, so I guess any local bad weather is going to affect the already expired Feb contract (to be delivered throughout this month) and maybe have secondary effects on the March contract.
Also the recent data showed Crude inventories rose nicely even when distillate inventories fell considerably.
Moreover, Crude inventories rose in 13 of the last 18 weeks (since mid September) so there is IMO no surprise shortage soon.
IMO, bad weather can be a good excuse to short lower highs in Crude.

OTOH, took profits again (too soon, again) @46.53 on the Iraqi news, seen 46.01 touched a couple of hours later.

ATG



To: Roebear who wrote (20656)1/31/2005 9:27:06 AM
From: Arik T.G.  Read Replies (1) | Respond to of 108678
 
Gold

I stand by my views from two weeks ago
Message 20946317

At first the action in the low 420s looked like basing, but it did show strong resistance last week around 430 which it failed to break.
Now a break below 422 will surely send it to 410 and we'll take it from there.

ATG


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