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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (8976)	3/15/2008 1:43:45 PM
From: Augustus Gloop	Respond to of 33421

I agree with you but I'm still a bear - for now. I became a bear last July and I'm sticking with it until I see a change. Oil could drop by 25 per barrel and I still think we have issues. Maybe DUG is the play for you

To: robert b furman who wrote (8976)	3/15/2008 2:57:35 PM
From: terry101	Respond to of 33421

Robert, on oil I think the US inventories being up and usage down are losing their historic impact on oil prices. 1. Inventories: I'm glad we're there but other countries (China, etc) are down and scrambling to secure their inventories. 2. Usage: a good part of US usage is simply manufacturing usage that has transferred to other countries. Hence, their scramble to secure more oil (in addition to their rising middle classes). Until viable replacement for oil comes, I find it hard to find a more secure place for money. (Food, of course, being the only exception. A little less PR history, but catching up.) (By the way, I laugh at any OPEC "discussion" of whether to raise production or not. It is all smoke. THEY CAN'T RAISE PRODUCTION EVEN IF THEY WANTED TO! The world peaked a year ago.) Note: I appreciate your posts and the others here. Good site! Terry