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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: Jack of All Trades who wrote (8264)	10/27/2005 12:15:53 PM
From: robert b furman	Read Replies (1) \| Respond to of 12411

Hi JoT, Not too uncommon for the SPX to bounce down off the 142 or 200 dma(after climbing up to it) and get support at the midpoint of the BB. If it holds at that midpoint (11887.20ish),we could well see a resumption of the uptrend and that nasty 200 (or 142) could well become support when surpassed. We are in that "its time to do or die" somewhere pretty soon. If oil continues its decline that could well be the impetus. I'm amazed at these oil complex builds as 50% of the gulf is still shut down.If I was a big oil - I'd slow walk the repairs and make the consumers pay for the damage also.GG NO DOUBT a combination of both supply coming on stream - from a lot of drilling on the ground (I see more of that than ever here in Texas) and some demand destruction plus seasonality. You give me gas below $2.00 by Thanksgiving and I'll show you a buying public that feels good about paying a higher price vs last year. Guess we all have short memories huh? Bob