trading range, page-3

Dan your back

I can't say from a chart point of view as I am a fundamentalist but the short term key potential SP movers are:

(1) Cedar Point well 3 & 4 flow rates (when they are finally released) plus what the depletion rates are looking like on wells 1& 2


(2) Oil prices are dropping re Siria tensions easing. Oil demand is also fairly flat and there has just been a huge new oil find in the Gulf of Mexico.
Some analysts are predicting $85 a barrel.

http://www.examiner.com/article/1-5-trillion-oil-massive-crude-oil-well-found-gulf-of-mexico-drill-pipes?cid=rss



(3) LNC full years results are due out around 30th Sep and they are not going to be great.
Its possible that they may have some write downs re Alaska Drilling and the higher depletion rates on Barber Hill.
These potential write downs will be non cash but the market will still not like it if it happens.


(4) Any positive announcements regarding UCG would of course be positive to the SP.

So in summary unless they release some positive news I see the SP drifting lower in the short term.