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B4 the Bell, Moonday Aug. 9, 2004


Guest yobob1

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Broker index has launched 1% in the last hour

HGX is coming off the highs and BKX going nowhere.

1068.50 was the highs last night on the spoos.

We missed it by .25

Real lack of intense +ticks so far.

The market seems like it cant get out of its on way but it is early.

 

It will be very interesting to see how the 3 year goes off today.

Who will be buying?

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Still get the feeling that this downmove was engineered by the carry-traders as a shot across Al's bows.The money is just too easy and they never want it to stop--so,as they have the power,maybe they're trying to tip Al's hand a bit.

 

Or even better-Al wants out of tightening and needs an excuse-so he dunnit!

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Value Area on futures from Friday is 1067 to 1074. (which means 70%

of trades Friday about took place in here.)

 

Market having tough resist getting past 1067 , into area. SO FAR anyway.

not sign of much strength.

 

My plan...........should i choose to except it.........is to wait and see if it

can touch up to 1074-1076 to try short.

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Good news. Server load on the new server is running less than 10% of the typical load on the old server. We should have no more problems with the server hanging.

Thank you, Doc!

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Crude Earl $44.95 +1.00 ... new all-time record high.

 

It's all over but the cryin'.

 

Some people just don't know it yet ...

Check out FDX

 

They acquired Kinkos to give themselves a retail footprint, and just made another acquisition today to get in the middle of the online fulfillment stream.

 

Dear Fred:

 

These properties were available at half this price a year ago. The market hates it when you pay top dollar for acquisitions, when oil is moving higher and we're heading back into recession.

 

Thanks for the shorting opportunity though!

 

Your friend,

 

Plunger

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Supply loss could send oil to $100, Deutsche Bank AG says

 

11:04 AM CDT on Monday, August 9, 2004

 

Bloomberg News

 

Oil prices, which set a record in the U.S. last week, might reach $100 a barrel if accidents, natural disasters or sabotage in two producing countries cut supplies, Deutsche Bank AG said in a note.

 

With the Organization of Petroleum Exporting Countries now pumping oil at 95 percent of capacity, a loss of 1 million to 2 million barrels a day of supply could lead to a doubling of prices from the current price of $30 to $40 a barrel, wrote Adam Sieminski, Deutsche Bank's oil strategist in London.

 

"If these extreme conditions continue to prevail in the markets, it is not unthinkable that a second disruption (loss of some exports from Russia, for example, or from Saudi Arabia, Norway, Venezuela, Iran, Nigeria or one of the other big exporters) could push prices toward $100," Sieminski said.

 

http://www.dallasnews.com/sharedcontent/dw...soil.cad80.html

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Basra oil terminal shut down

From correspondents in Baghdad

August 10, 2004

 

IRAQ stopped pumping oil from its key southern oil fields today because of the violence plaguing the region during a renewed Shiite uprising, an official with the South Oil Company said.

 

About 1.8 million barrels per day, or 90 per cent of Iraq's exports, move through Iraq's southern port of Basra, and any shutdown in the flow of Iraq's main money earner would badly hamper reconstruction efforts.

 

A senior official with the oil company, who spoke on condition of anonymity, said the southern oil fields stopped pumping oil today after militants loyal to Shiite cleric Muqtada al-Sadr threatened to target the oil infrastructure in Basra.

 

Oil in storage tanks at the port was still being loaded onto tankers, the official said. The British military, which patrols Basra, said it had no reports on the shutdown.

 

Al-Sadr's militants have been fighting coalition and Iraqi forces for five days in Shiite areas across the country.

 

http://www.news.com.au/common/story_page/0...55E1702,00.html

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Iraq Stops Pumping Oil From Basra Fields

 

BAGHDAD, Iraq - Iraq (news - web sites) stopped pumping oil from its key southern oil fields Monday because of the violence plaguing the region during a renewed Shiite uprising, an official with the South Oil Company said.

 

About 1.8 million barrels per day, or 90 percent of Iraq's exports, move through Iraq's southern port of Basra, and any shutdown in the flow of Iraq's main money earner would badly hamper reconstruction efforts.

 

A senior official with the oil company, who spoke on condition of anonymity, said the southern oil fields stopped pumping oil Monday after militants loyal to Shiite cleric Muqtada al-Sadr threatened to target the oil infrastructure in Basra.

 

Oil in storage tanks at the port was still being loaded onto tankers, the official said. The British military, which patrols Basra, said it had no reports on the shutdown.

 

http://story.news.yahoo.com/news?tmpl=stor..._mi_ea/iraq_oil

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