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To: Gerald L. Kerr who wrote (1322)7/24/1998 1:15:00 AM
From: Quyen D. Tu  Respond to of 3458
 
Could today's price action was only a delay reaction to this story yesterday>>>

Wednesday July 22 3:16 AM EDT
Heat Wave Carries Increasing Smog
KEN WOO Associated Press Writer

LOS ANGELES (AP) - Eye-watering, throat-burning brown air has returned to Southern California, as six straight years of diminishing smog vanished along with El Nino.

This summer, there have been seven Stage 1 alerts for unhealthy air, including five in the past week. That's up from just one last year and equal to the number issued during the entire May-to-October smog season in 1996.

The haze arrived last week along with the heat wave, prompting warnings to joggers, children and the elderly to avoid strenuous outdoor activity.

''I think what we've seen, beginning last week, was a bona fide smog siege,'' said Linda Waade, executive director of the watchdog group Coalition for Clean Air.

Southern California's smog, the worst in the nation, fluctuates with the seasons, reaching its peak in the summer when an ''inversion layer'' of cooler air traps hot, dirty air over Los Angeles and its suburbs.

El Nino began last spring, and held down summer temperatures, resulting in just one Stage 1 alert. Now El Nino's gone and the heat's back, along with the smog.

''It's definitely a lot worse this year,'' said Kelly Norwood, who was walking her dog Tuesday in Pasadena, where a bourbon-colored sky obscured views of the San Gabriel range. ''Last year it was really clear and you could always see the mountains. Now there's this nasty film hanging around.''

A Stage 1 alert means everyone is advised to cut down on strenuous outdoor activity. People with heart and lung problems are urged to stay inside. It's been a decade since the last Stage 2 alert, in which everyone is advised to stay inside. Stage 3 - when factories are asked to reduce operations - hasn't been invoked since 1974.

Emission controls on cars and factories, cleaner-burning gasoline, car pooling and other efforts have made a dent in the problem, said Sam Atwood, a spokesman for the South Coast Air Quality Management District.

''The general trend for smog levels is down,'' Atwood said. ''A lot of it depends on the weather, which constantly varies.''

In 1977, the year the current smog tracking system was established, the district issued 121 Stage 1 alerts. By 1992, the number was down to 41 alerts; in 1996, when there were seven.

NOT!!!

My guess is that the rumors about pending orders are being confirmed by the market. Is the market really that efficient???

See-Ya Shorties, Wouldn't Want To Be Ya!!!