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

To: XoFruitCake who wrote (11)	4/18/2005 7:59:46 AM
From: CommanderCricket	Respond to of 89

Futures look good this morning as June CL is still above $50. Dow futures down 0.05% and NASDAQ futures down 0.07%. Not the stuff of market crashes. Short covering today is my guess. Ed - you out there? What's your take on ATPG right now? Michael

To: XoFruitCake who wrote (11)	4/18/2005 8:26:26 AM
From: jim_p	Read Replies (1) \| Respond to of 89

Both oil and NG future prices are very high, but the back months are now lower than the forward months. As a rule, the market is still bullish when the back months are higher. Take a look at Fridays December contract of each of the next five years: 12/05 $53.17 12/06 $50.96 12/07 $49.04 12/08 $47.67 12/09 $46.77 12/10 $46.12 The same is now true for NG: 12/05 $8.00 12/06 $7.65 12/07 $7.12 12/08 $6.65 12/09 $6.31 12/10 $6.00 It was only a few weeks ago when just the opposite was true. LT the bulls story is intact. My only concern is how low do we go before the next bull market in oils?? If valuations were cheep I could buy the argument of buying a holding for the long term, but they aren't. Jim PS: Futures prices tend to lag the trend