THE WINDY CITY TRADER
P.O. Box 1673, Chicago, Illinois
800-443-2360(November 30, 1999) ENERGY COMPLEX: The kiss of death was most likely placed on this complex. Last week when the crude reached $27.00 (January futures) the Wall Street Journal finally acknowledged the year-long rally. They forecast the likely move to $30.00 in the weeks ahead. To date this market has ignored all bearish news and rallied on each shred of good news. All the good news is out now. The only thing left is one final upside blow-off followed shortly thereafter (possibly same day) by a key technical reversal. We feel that there is a much better chance of crude seeing $21 before seeing $30.
NATURAL GAS--Natural gas is a market to watch. It is not often that you see an $80-$100 drop coming into the peak winter heating season. A warm fall was the catalyst for this drop. We do know however that Mother Nature can be unpredictable. An inexpensive February call option could prove profitable.
Stephen Connell and William Frejlich
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