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B4 the Bell Thursday


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NYMEX crude opens higher as OPEC hike disappoints

Forbes - 5 minutes ago

NEW YORK, June 3 (Reuters) - NYMEX crude oil futures opened higher Thursday amid disappointment over OPEC's decision to raise oil output quotas by only 2 million barrels per day, or 8 percent, in a bid to curb high oil prices.

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10:33am 06/03/04  DOE: DISTILLATE SUPPLIES UP 200,000 BARRELS

 

10:32am 06/03/04  DOE: CRUDE INVENTORIES UP 2.8 MLN BARRELS

 

10:33am 06/03/04  DOE: GASOLINE INVENTORIES UP 1.3 MLN BARRELS

Profit margins are begining to soften too.... but no one is going broke.

 

Here's Cali's breakdown.

 

http://www.energy.ca.gov/gasoline/margins/

 

Here's some info on the tax racket, state by state. (page 4) Now you know why I call it the "price at the pimp."

 

http://api-ep.api.org/filelibrary/ACF15F.PDF

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TICK in uptrend since 10am...downtrend line since 2pm yesterday comes in at SPX1123.5 round about 5pm.

 

Looks like its having trouble going above it...for now

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i see total P/C now at 1.51........something is up..this is not mom and pop

Im expecting a huge dump into Tuesdayish to get the put/call numbers even more severe.

 

It may start from 8:30am on Friday and end up at 1100-5ish....may see >1130 by Friday morning though

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