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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 (17348)	11/21/2015 11:37:16 PM
From: John Pitera	Read Replies (3) \| Respond to of 33421

Hi Bob, Some insightful comments.... the NYSE Weekly chart is in worse shape than the XMI ..... we will be getting to the point of having some very favorable earnings comparisons as we get into next year and that will help with valuations. Boone Pickens was estimating production out of Iraq is 200,000 barrels it will be interesting to see how quickly they can ramp it up and how quickly Russia could grab it. One reason that we have not seen a bottom in Crude yet has been considerable forward selling .... that transpired over the past 3 months. John Sauer of Mobius Group in Houston was pointing out how forward month selling became 8 times the normal volume as we reached the past 2 price peaks. cmegroup.com the forward months get going after June of next year.... look at the ratio of in the money WTIC puts in the various months of next year compared to In the money calls cmegroup.com those puts are planning to deliver in many cases. The folks with in the money options are not concerned about price increases... as a mater of fact, they'd love to see some higher prices as we have margins expanding. but prices will not be down here forever. John