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

To: Walkingshadow who wrote (8208)	4/27/2005 5:26:06 PM
From: Walkingshadow	Respond to of 8752

Well well well.... Oil rallies steadily for over two solid years, barely makes the news. Oil spikes to record levels in the last 6 - 9 months. The market seems to react occasionally, talking heads whine about oil prices when they run out of reasons-du-jour to "explain" market moves. Oil moves up, market celebrates by rallying right along with it. Talking heads find other reasons driving market behavior and forget about oil. Market corrects, oil corrects, talking heads mumble something incomprehensible about FOMC or the weather or whatever they think people will actually believe. Bush meets with the Saudis, extracts a pledge to increase production of oil significantly, market doesn't seem to care. Oil drops yesterday, market definitely doesn't care and drops right along with it. Oil drops precipitously overnight and into the morning, market doesn't care again, and gaps down anyway. Market drops down to test support, is met with a surge of buyers, and rallies off that support. NOW suddenly the market notices that oil formed a double top a month ago and has been failing ever since and decides to rally in belated celebration (all this from the talking heads again today----the "explanation" for today's rally on fairly decent volume and greater than normal QQQQ volume off support is dropping oil prices and Bush comments about refining capacity ???) I snorted an entire moutful of Starbucks thru my nose all over my monitor when I read that story. I don't even know why I bring that drivel up on my monitor anymore.... what a waste of perfectly good electrons. And anybody who believes that "explanation".... well, I got a pair of "Pre-Owned" shoes I'd like to sell them. They happen to be currently on the feet of my potential customer, but that shouldn't present any insurmountable problems to making the sale.... Oh, and hey, just because I'm such a nice guy, I'll throw in the Pre-Owned socks on those same feet for a whopping 5% discount off the usual price (minus shipping and handling charges, transferrance of ownership fees, license fees to cover fee collections, tobacco tax, highway tax, and some minor additional fees). <ggg> But seriously, these "explanations"..... can't they at least create explanations that are entertaining or at least less insulting to anybody with enough intelligence to get their shoes on the correct feet? T

To: Walkingshadow who wrote (8208)	4/27/2005 6:21:48 PM
From: Vendit™	Read Replies (2) \| Respond to of 8752

I have been dripping into that stock since 1983. finance.yahoo.com My cost basis is just a few dollars plus I trade a few blocks every now and then. I also have Leaps in fairly large quantity with various cost basis, 10.50, 15.40, 18.00, 26.45 with differing time horizons. No current trading position. The news was a 20% increase in first quarter earnings announced after the close yesterday followed by two upgrades. It may be a good short at present if you are interested since news only last about a day.