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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: stock2005 who wrote (7726)	4/13/2005 5:46:08 AM
From: Vendit™	Read Replies (1) \| Respond to of 8752

stock2005 I drew this chart last night and is why I conclude a brief bull rally towards 37.00 this morning. themarketwind.com Message 21222075 Falling oil futures overnight will also help a rally this morning: Message 21222888 I’m talking a one to two day rally here and then agree with you that a correction to lower support or to a lower trend line is likely. (36.00 – 36.40) Welcome to the board. Reid

To: stock2005 who wrote (7726)	4/13/2005 6:25:33 AM
From: Vendit™	Read Replies (5) \| Respond to of 8752

Two fundamental reasons why the market will rally this morning at open. Stocks up after Fed comments U.S. stocks rose yesterday after minutes from last month's Federal Reserve policy meeting suggested the central bank won't speed up the pace of interest-rate increases. Falling oil prices added to the gains. "The market is giving a sigh of relief," said Michael Metz, chief investment strategist for Oppenheimer & Co. There was concern that the policy discussions reviewed in the minutes "would have a much more hawkish tone" on inflation than they did, he said. Minutes from the Fed's Open Market Committee meeting on March 22, released yesterday in Washington, said that "many participants stated that they expected total inflation to diminish and any rise in core consumer inflation to be limited." Since June, the Fed has increased its benchmark rate by a quarter-point seven times to 2.75 percent. newsday.com Crude Oil Drops to Six-Week Low as Rising Supply Exceeds Demand April 13 (Bloomberg) -- Crude oil tumbled to a six-week low in New York as production from the Organization of Petroleum Exporting Countries rose and global stockpiles grew. A government report later today will probably show U.S. crude supplies rose for a ninth straight week and increasing output from refineries halted a month-long decline in gasoline stockpiles, according to a Bloomberg News survey. OPEC, the source of about 40 percent of the world's oil, is considering raising output quotas for a second time this year. ``The market is pretty awash with crude,' said Paul Horsnell, the head of energy research at Barclays Capital in London. Higher prices for oil to be delivered in June than in May indicate that ``crude is going to continue to pour into storage. Everything is different from last year with OPEC raising production. They'd be happy to get prices below $50.' quote.bloomberg.com