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

To: Umunhum who wrote (44555)	6/3/2005 11:52:28 AM
From: CommanderCricket	Read Replies (3) \| Respond to of 206085

For those of who bottom fished and held our noses over the last 6 - 8 weeks, this week has been pay day. Sold 1/3rd of the following - KCS, MHR and TLM today. Still holding full positions EGY and TGA. Looking to buy PTEN if she can break out of her channel above $28? Michael BTW: For my trading shares I was too early to the party in late April and May. Would've done better with a little more patience. Buying the 200dma's worked but the pain wasn't much fun holding some of the shares when they broke support. Live and learn..

To: Umunhum who wrote (44555)	6/3/2005 12:10:42 PM
From: XoFruitCake	Respond to of 206085

I think the part that puzzle on this crude rise is the gulf coast crack spread for both gasoline and distillate are dropping (compare to the peak in April). That seem to be saying that more refining capacity is coming up so we are using more sweet crude. Last week gasoline spread is below 5 years average. Production is tracking last year. Demand for gasoline is higher (EIA say 1+%) gasoline chart media.corporate-ir.net Distillate spread is still very high and stable (but not at the high of the year). Demand is slopping down but still higher than last year Distillate Chart media.corporate-ir.net But the sour spread is dropping like a rock since April Sour spread Chart media.corporate-ir.net So we have higher WTI price (from 48+ to 54 now), lower sour spread, lower gasoline spread, stable but high distillate spread, gaoline price higer than last year but lower than the peak we hit in Aprl and higher HO/diesel/jet fuel price seems to be saying that we have enough gasoline (and more is coming from around the world), not enough distillate, more sour crude refining capability come online (driving down the sour spread). At this moment, it is not clear what will happen to the crude complex in 4Q. And whether this set of data is good for VLO of the world or CNQ of the world down the road or not... Any thoughts on how to interpret this set of trend?