Still, the middle of October is the time for us to look at a top. A number of fundamentals that used to move higher are getting pretty stale. The drop in production from the U.S. Gulf, the Nigerian strike, a lot of these factors aren't getting any worse.
More Quotes from Peter Beutel:
A combination of cold weather and good economic numbers has sent us higher. This week's data shows that the economy hasn't buckled under the pressure of high oil prices.Peter Beutel
We did have some profit-taking early, but I think a lot of people that were caught behind the eight ball saw that as an opportunity to buy.
Peter Beutel
We'll be looking at it (Greenspan's speech) a lot more closely than we normally do, but I don't know if we'd ever look at it the same bond traders do, ... To them everything he says is gospel. It's only once every couple of years we even know what he's saying.
Peter Beutel
Right away, nationwide, we're going to see an increase of gas prices of 12 cents. We'll see it almost everywhere by Tuesday. In addition, sometime between St. Patrick's Day and the end of the month, I expect to see an additional 12 cents. This is extraordinarily bad news for the consumer.
Peter Beutel
It's going to take a long time before we know exactly how to look at this, what effect Katrina is having long-term. I would like to say for now at least the worst is behind us. What tomorrow brings, particularly on the weather front, remains to be seen. We're still in a tight situation.
Peter Beutel
there is something wrong with the market.
Peter Beutel
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