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#6506 From: "John" <wwt2002@...>
Date: Mon Aug 2, 2004 10:39 pm
Subject: Neural Network software for Sale
merkeliii
Send Email Send Email
 
Hi,

I have a used version of the NeuroShell 2, Rel. 4.0 (latest edition)
that I am selling.  If anyone is interested here is a link:

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=3692135352

I'm selling it on eBay and you should just be able to do a search
using "NeuroShell" to find it.

Thanks,

John

#6507 From: "comrade551" <comrade551@...>
Date: Tue Aug 3, 2004 3:35 am
Subject: History of Behavioral Finance
comrade551
Send Email Send Email
 
I'm doing a report on behavioral finance and its history? (i.e. what
gave fuel to the idea, when exactly did it start and who was
responsible for it if other than Kahneman and Tversky) I would
appreciate any input, journals, websites, or books that could help
me. My email is comrade551@...

#6508 From: Tyrrel fairhead <tyrrelf@...>
Date: Tue Aug 3, 2004 12:32 pm
Subject: Re: Neural Network software for Sale
tyrrelf
Send Email Send Email
 
Can you let me have more ino re this software. I may
be interested. Tyrrel.
--- John <wwt2002@...> wrote:

> Hi,
>
> I have a used version of the NeuroShell 2, Rel. 4.0
> (latest edition)
> that I am selling.  If anyone is interested here is
> a link:
>
>
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=3692135352
>
> I'm selling it on eBay and you should just be able
> to do a search
> using "NeuroShell" to find it.
>
> Thanks,
>
> John
>
>




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#6509 From: Martin Sewell <M.Sewell@...>
Date: Tue Aug 3, 2004 6:45 pm
Subject: Re: Hard wired formula in the brain????
martinsewell1
Send Email Send Email
 
At 09:40 04/07/2004 +0000, chr-gl@... wrote:
>Hello,
>
>Did anyone read the article in Newsweek magazine (July 5 edition, P 42), "Mind
>reading".

http://msnbc.msn.com/id/5570554/site/newsweek/

For comments from evolutionary-psychology, see:
http://decision-making.notlong.com

Regards

Martin

#6510 From: "John" <wwt2002@...>
Date: Wed Aug 4, 2004 12:41 am
Subject: Re: Neural Network software for Sale
merkeliii
Send Email Send Email
 
here are some informative links:

http://www.wardsystems.com/products.asp?p=neuroshell2
http://www.master-forex.com/about2.html
http://www.wardsystems.com/ordering.asp?prices

thanks,

john







--- In Behavioral-Finance@yahoogroups.com, Tyrrel fairhead
<tyrrelf@y...> wrote:
> Can you let me have more ino re this software. I may
> be interested. Tyrrel.
> --- John <wwt2002@a...> wrote:
>
> > Hi,
> >
> > I have a used version of the NeuroShell 2, Rel. 4.0
> > (latest edition)
> > that I am selling.  If anyone is interested here is
> > a link:
> >
> >
> http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=3692135352
> >
> > I'm selling it on eBay and you should just be able
> > to do a search
> > using "NeuroShell" to find it.
> >
> > Thanks,
> >
> > John
> >
> >
>
>
>
>
> __________________________________
> Do you Yahoo!?
> Yahoo! Mail Address AutoComplete - You start. We finish.
> http://promotions.yahoo.com/new_mail

#6512 From: "Dominik Schoenenberger" <dschoenenberger1@...>
Date: Thu Aug 5, 2004 4:47 am
Subject: RE: Irrationalities
dschoenenber...
Send Email Send Email
 
What is your understanding/definition of "principles of irrationalities"? I have
never heard of this
term, and Google finds no single website containing it.

Dominik Schoenenberger

#6513 From: "pgreenfinch" <pgreenfinch@...>
Date: Thu Aug 5, 2004 10:19 am
Subject: Re: Irrationalities
pgreenfinch
Send Email Send Email
 
Hi, Aviral. Maybe you are referring to logical fallacies?
In that case you can look at:
http://en.wikipedia.org/wiki/Logical_fallacy
Maybe, also, look at "cognitive bias"
Peter

--- In Behavioral-Finance@yahoogroups.com, "s_aviral"
<s_aviral@y...> wrote:
> hi
>
> currently i am finding/collecting the Principles of
Irrationalities
> and i am facing loads of difficulty in doing so. Can any one help
me
> out of this problem by providing some source or anything else
which
> will help me in finding out the principles of irrationalities?
>
> Regards
> Aviral

#6514 From: "pgreenfinch" <pgreenfinch@...>
Date: Thu Aug 5, 2004 10:25 am
Subject: Re: History of Behavioral Finance
pgreenfinch
Send Email Send Email
 
--- In Behavioral-Finance@yahoogroups.com, "comrade551"
<comrade551@y...> wrote:
> I'm doing a report on behavioral finance and its history? (i.e.
what
> gave fuel to the idea, when exactly did it start and who was
> responsible for it if other than Kahneman and Tversky) I would
> appreciate any input, journals, websites, or books that could help
> me. My email is comrade551@h...

Maybe by digging in some prior economists' works you
can see findings that are "proto-BF". Such as Keynes
"beauty contest", "Allais' paradox" or Pareto's "ophemility".
Peter

#6515 From: Tyrrel fairhead <tyrrelf@...>
Date: Thu Aug 5, 2004 3:12 pm
Subject: Re: Irrationalities
tyrrelf
Send Email Send Email
 
I am wondering if looking for 'principles of
irrationality' is not in & of itself irrational in
that something based upon principles may ,by
definition, only be rational? I can only propose that
irrational is everything other than that which can be
defined\described rationally. TF
--- s_aviral <s_aviral@...> wrote:

> hi
>
> currently i am finding/collecting the Principles of
> Irrationalities
> and i am facing loads of difficulty in doing so. Can
> any one help me
> out of this problem by providing some source or
> anything else which
> will help me in finding out the principles of
> irrationalities?
>
> Regards
> Aviral
>
>




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#6516 From: "pgreenfinch" <pgreenfinch@...>
Date: Fri Aug 6, 2004 7:34 am
Subject: 51st month newsletter
pgreenfinch
Send Email Send Email
 
Hi, dear members and visitors!

The group's activity picked up somewhat, although
we are in the Summer months

1) Monthly stats

We had a bit more subscriptions than unsubscriptions
this month, reaching around 1380 members.
The message activity reached over 70 messages (now
totalling 6515)
Our sister list, Finance-academy is still inching up,
with 235+ members
http://groups.yahoo.com/group/Finance-Academy

2) Group's existing resources, and their access

3a) Accessibility of yahoo group's resources

Access to polls, links and files needs a
*yahoo ID/profile*.
To get it, click "account info" (in the group's homepage
or your "mygroups" page) and fill in the info you feel
appropriate

3b) Your free BF resources: a short list
(regularly updated, and at your fingertips 24/7):

* Your "BF gallery" / FAQ with 400+ BF keywords.
It is regularly updated. Any suggestion to enhance
definitions or enter new keywords is welcome.
http://perso.wanadoo.fr/pgreenfinch/behavioral-finance.htm

* Your BF Group's Archives:
http://groups.yahoo.com/group/Behavioral-Finance/messages
(and then use "search")

* Your BF Bookmarks
http://groups.yahoo.com/group/Behavioral-Finance/links

* Your behavioral Stockpricer
http://perso.wanadoo.fr/pgreenfinch/pricer.htm

* Not to forget the very practical and useful search
tool from MartinSewell
http://cgi.msewell.plus.com/cgi-bin/bfsearch.cgi

Wishing the best to all, and another month of Summer
relaxation (don't worry, if you are in the southern
hemisphere, your turn will come, while we will freeze ;-))
but also of fruitful, innovative and thought-provoking
info and debates.

Peter

#6517 From: "March, Richard" <rmarch@...>
Date: Fri Aug 6, 2004 3:17 pm
Subject: RE: Digest Number 1249- Irrationalities
rmarch@...
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Aviral, There is an interesting discussion of "rational irrationality" by Bryan Caplan of George Mason University at the link below.

http://www.gmu.edu/departments/economics/bcaplan/eejformat.doc.

 

Many of the definitions of “rationality” are influenced by a desire to show that (or when) markets are (or are not) efficient.

 

Dick March


#6518 From: "pgreenfinch" <pgreenfinch@...>
Date: Fri Aug 6, 2004 5:58 pm
Subject: Re: Digest Number 1249- Irrationalities
pgreenfinch
Send Email Send Email
 
--- In Behavioral-Finance@yahoogroups.com, "March, Richard"
<rmarch@s...> wrote:

> Many of the definitions of "rationality" are influenced by a
desire to
> show that (or when) markets are (or are not) efficient.

Well observed, Dick. It is  true that it seems to be the
new fashion about that topic.
In the past, those definitions of (ir)rationaliy were
influenced by the desire of men to show how they perceived
women, and the other way round.
It is more PC nowadays to apply it to markets. Maybe a sign
that civilization is changing ;-))
Peter

#6519 From: "leif_ericssen" <leif_ericssen@...>
Date: Mon Aug 9, 2004 6:54 am
Subject: A Unique Investment Strategy?
leif_ericssen
Send Email Send Email
 
Here's a link to a Forbes article, Family Ties, by Matthew Swibel,
that describes research indicating that firms that the founding
family still are involved in have superior performance.  It also
profiles the Pitcairn Family Heritage Fund, which practises a
strategy of investing in family firm stocks.

http://www.forbes.com/home/free_forbes/2004/0705/146.html

What do you think?  Is this a real inefficiency or an artifact?

Jan

#6520 From: "bhasinnitin" <bhasinnitin@...>
Date: Mon Aug 9, 2004 10:07 am
Subject: Irrationalities
ardent_reader
Send Email Send Email
 
I was reading somewhere that there are some 531 recorded listed investing irrationalities! Is this true ? If yes can you help me with the reference from where I can get to read about these all. Regards Nitin When the doors of perception are cleansed we all would be able to see the things as they truly are, infinite.
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#6521 From: "Dominik Schoenenberger" <dschoenenberger1@...>
Date: Mon Aug 9, 2004 11:13 am
Subject: RE: Irrationalities
dschoenenber...
Send Email Send Email
 
I'm afraid I have to disappoint you. We've managed to find only 529 so far. When
the doors of
perception are cleansed, we all would be able to see irrationalities as they
truly are, uncountable.

Dominik Schoenenberger

---
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#6522 From: "pgreenfinch" <pgreenfinch@...>
Date: Mon Aug 9, 2004 3:40 pm
Subject: Leverage as a fad ?
pgreenfinch
Send Email Send Email
 
Seems some financial approaches, such as the
Miller-Modigliani one, put some fog on the distinction
between equity and debt in the appreciation of the
financial return of a project.
This, together with some lax (up to now) in central bank
interest rate policies (because of fear of deflation) is
a cause of "financiarisation", meaning replacing equity,
a scarce resource, by all kind of other financial instruments
(financial engineering), which are more easily available,
and bringing thus overleverage.
Same thing, btw, for municipalities, states, regions,
countries and obviously consumers in many countries.
But it seems to me we have here, under the aliby of a
better understanding of the possibilities of finance, a
behavioral bias that is developping, a kind of overconfidence
that high leverage is sustainable.
What is your opinion ? A gigantic Ponzi scheme ? Or better
sophistication of economic agents that are by-passing the
scarcity of own capital, and trusting future economic growth
for repayment?
Peter

#6525 From: "pgreenfinch" <pgreenfinch@...>
Date: Wed Aug 11, 2004 1:17 pm
Subject: Re: Introducing ..... Forum
pgreenfinch
Send Email Send Email
 
Message deleted, good bye.
Peter
--- In Behavioral-Finance@yahoogroups.com, Chris Bailey
<lucid_source@y...> wrote:
> Another Forum??

#6526 From: giuseppe cornicello <g_cornicello@...>
Date: Thu Aug 12, 2004 4:05 pm
Subject: intrinsic bubble
g_cornicello
Send Email Send Email
 


Dear all
 
Do you know if exists papers on the intrinsic bubble other than Froot and Obstfeld (1991) and a James Montier's paper in which there is a paragraph about it?
 
And also, trying to be a bit more active in this forum :-), what is you opinion about it?
 
Personally, I think that many elements play a role in a bubble and one of these is studied by  the intrinsic bubble that explain this phenomenon as due by an overreaction to the news about the fundamentals (that is consistent with the empirical evidence).
 
With regards
Giuseppe Cornicello


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#6527 From: Tom Smith <g_i_2_boocoo@...>
Date: Thu Aug 12, 2004 4:50 pm
Subject: Re: intrinsic bubble
g_i_2_boocoo
Send Email Send Email
 
Hi Giuseppe,
 
One of the best discussions I've seen about the bubble in the prices of Dutch tulip bulbs that took place in the 1630's was written by the famous French historian, Fernand Braudel.  I'm sorry I can't remember the title of the book offhand, but it was in one of the many books he's written about European history during the Renaissance and any good library should have copies of his works available.  As you may know, Braudel is famous for digging through the archives of historical documentation related to economic activity and there may be references in his works to other boom and bust cycles in other asset classes as well.
 
By the way, and even though I'm not a scholar in the field of history (or in anything else for that matter) Braudel's footnotes, bibliography and documentation appear to be absolutely impeccable and might prove valuable for research purposes related to the kind of study in which you are involved.
 
Hope this helps.
 
Best regards,
 
Tom
 


giuseppe cornicello <g_cornicello@...> wrote:


Dear all
 
Do you know if exists papers on the intrinsic bubble other than Froot and Obstfeld (1991) and a James Montier's paper in which there is a paragraph about it?
 
And also, trying to be a bit more active in this forum :-), what is you opinion about it?
 
Personally, I think that many elements play a role in a bubble and one of these is studied by  the intrinsic bubble that explain this phenomenon as due by an overreaction to the news about the fundamentals (that is consistent with the empirical evidence).
 
With regards
Giuseppe Cornicello


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#6528 From: AGELOS PEPELAS <latinangelgr@...>
Date: Thu Aug 12, 2004 7:42 pm
Subject: Re: Stock Market Overreaction
latinangelgr
Send Email Send Email
 
Dear Welly Sie,

there is a huge amount of research done for the field
of investors' overreaction/ underreaction. I suggest
you to read DeBondt, Thaler (1985) paper. As far as i
know this is the first research trying to give some
evidence in favour of investorts' overreaction. This
refers to the US stock market. Though, there are
plently of studies in other stock markets such as
Greece, UK, Spain etc.

Actually there is an excellent research that examines
the value premium in the UK stock market (following
the LSV methodology)using a completely new database
which does not suffer from any biases.

You can find it in the following URL

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=549865


I hope this helps

Regards,
Angelos
  --- Welly Soewandono <wellysie@...> έγραψε:

---------------------------------
Dear researchers,

I'm a postgraduate student at Indonesia
University doing research of Stock Market Overreaction
in Jakarta Stock
Exchange.

Is there anyone of you have also doing
similar research out there?

I need more evidence of Overreaction in other markets
and make a comparative
study as well.
Thank you for your attention.


Best regards,
Welly Sie
RQ ID: 77000
Elite Team Indonesia (Anne Ahira)
http://www.RetireFast.net
http://RQ.RetireFast.net

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   Manage your money and you will have the time you
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#6529 From: "alifshirali" <alifshirali@...>
Date: Sun Aug 15, 2004 10:48 am
Subject: Re: Hard wired formula in the brain????
alifshirali
Send Email Send Email
 
FYI,

Such fMRI studies are covered in Colin Camerer's Caltech course on
Behavioral Economics (SS200), as well as in David Laibson's Harvard
course on Psychology & Economics (Ec1030.)

Both courses, with their lecture notes, handouts, syllabii and other
materials are available freely on the web...just search Google.

I had an idea that someone at MIT (Xavier Gabaix? Andrew Lo seems to
be a Behavioral Ec skeptic) was getting ready to wire up traders to
these machines too.



--- In Behavioral-Finance@yahoogroups.com, Martin Sewell
<M.Sewell@c...> wrote:
> At 09:40 04/07/2004 +0000, chr-gl@i... wrote:
> >Hello,
> >
> >Did anyone read the article in Newsweek magazine (July 5 edition, P
42), "Mind
> >reading".
>
> http://msnbc.msn.com/id/5570554/site/newsweek/
>
> For comments from evolutionary-psychology, see:
> http://decision-making.notlong.com
>
> Regards
>
> Martin

#6530 From: "Mr. Kevin B. Bantz" <kevinbantz@...>
Date: Wed Aug 18, 2004 10:43 am
Subject: GOOG W/I $85-95
mrkbantz
Send Email Send Email
 
I believe the psyche now looks upon Google as having trading "value"
with the when issued price
of $85-95, or is it just me.

Comments?

#6531 From: "pgreenfinch" <pgreenfinch@...>
Date: Wed Aug 18, 2004 12:28 pm
Subject: Re: GOOG W/I $85-95
pgreenfinch
Send Email Send Email
 
--- In Behavioral-Finance@yahoogroups.com, "Mr. Kevin B. Bantz"
<kevinbantz@m...> wrote:
>
>
> I believe the psyche now looks upon Google as having
trading "value"
> with the when issued price
> of $85-95, or is it just me.
>
> Comments?

Is it a behavioral pricing analysis?
Peter

#6532 From: "leif_ericssen" <leif_ericssen@...>
Date: Thu Aug 19, 2004 7:38 am
Subject: Re: GOOG W/I $85-95
leif_ericssen
Send Email Send Email
 
--- In Behavioral-Finance@yahoogroups.com, "Mr. Kevin B. Bantz"
<kevinbantz@m...> wrote:
>
>
> I believe the psyche now looks upon Google as having
trading "value"
> with the when issued price
> of $85-95, or is it just me.
>
> Comments?


Well, at a PE of 292 I wonder about the mental state that
sees "value"..

In terms of investor attraction, I'm sceptical.  Whether you
consider Google to be in information or infotainment, the market
interest isn't high on those industries, considering them to have
average potential at best.  And I don't see a reason to disagree.

I don't think the chartists and other technical traders would go
with it either, no favourable momentum action in the industry group.

Jan,
thinking I'll look at AOL and Yahoo puts as an alt to short Google..

#6533 From: "pmpaddyboy" <pmpaddyboy@...>
Date: Thu Aug 19, 2004 12:49 pm
Subject: question
pmpaddyboy
Send Email Send Email
 
Hello everybody my name is Pat and I am soon to begin my PhD in
Finance with the focus being in herd behaviour and return-based
measures of it. Research has indicated that herd behaviour may be
captured through the cross-sectional dispersion of stock returns
from the index (see for example Christie & Huang 1995, Financial
Analysts Journal as well as Chang, Cheng & Khorana 2000, Journal of
Banking & Finance). My question is: would it be possible to capture
herd behaviour through the time series of stock returns? Any ideas
would be greatly appreciated. Many thanks for your time.

Pat

#6534 From: chanchal khandelwal <chanchsrcc@...>
Date: Thu Aug 19, 2004 1:16 pm
Subject: Re: question
chanchsrcc
Send Email Send Email
 

Hello,

Can u please give me some examples of herd behavior and what do u think is reason behind herd behavior.

Is it only security?

Thanks for your time!

Chanchal


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#6535 From: Rich Schaefer <rschaefs36@...>
Date: Thu Aug 19, 2004 1:38 pm
Subject: Re: question
rschaefs36
Send Email Send Email
 
The reason, conformity.

I think a good example would be TASR in the spring of
this year.  The price of the stock was totally off the
mark.  That is, it was simply too darn high to justify
by any resonable and objective measure.

However, the supply was short and the rush was on to
buy.  All I kept hearing was "Buy buy buy!  I did and
ma making out well right now!"  Hence, the herd came
to this part of the farm.  Why?  Because plenty of
investors were following the pack without giving it
much thought.

That is my explanation.

Rich
--- chanchal khandelwal <chanchsrcc@...> wrote:

>
>
> Hello,
>
> Can u please give me some examples of herd behavior
> and what do u think is reason behind herd behavior.
>
> Is it only security?
>
> Thanks for your time!
>
> Chanchal
>
>
>
> ---------------------------------
> Do you Yahoo!?
> New and Improved Yahoo! Mail - Send 10MB messages!




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#6536 From: "pgreenfinch" <pgreenfinch@...>
Date: Thu Aug 19, 2004 3:42 pm
Subject: Re: question
pgreenfinch
Send Email Send Email
 
I agree about conformity, as avoiding to be a "dissenter", a party
spoiler. Some other reasons too
* safety, but only as a perception, an ingrained cognitive trait,
maybe coming from the animal brain: herding was a parade against
predators that didn't feel confortable against the swarm, and
preferred to attack isolated individual
* laziness, supposing the others "know something", so why bother to
make one's own analysis.
* and of course "rational expectation", riding the trend in the hope
that we can leave the boat before the bulk of the others do it, and
the trend revert.
A complex phenomenom, human beings, "social animals" as Aristotle
defined them (a bit disdainfully imo), are not completely
explainable and predictable.
Peter

> The reason, conformity.
>
> I think a good example would be TASR in the spring of
> this year.  The price of the stock was totally off the
> mark.  That is, it was simply too darn high to justify
> by any resonable and objective measure.
>
> However, the supply was short and the rush was on to
> buy.  All I kept hearing was "Buy buy buy!  I did and
> ma making out well right now!"  Hence, the herd came
> to this part of the farm.  Why?  Because plenty of
> investors were following the pack without giving it
> much thought.
>

#6537 From: Alif Shirali <alifshirali@...>
Date: Thu Aug 19, 2004 3:48 pm
Subject: Re: question on herd behavior
alifshirali
Send Email Send Email
 
Here is a link to a well regarded paper from Harvard
(which is becoming a leading center of B.Fin under
President Larry Summers of noise trader fame) on herd
behavior in investing:

post.economics.harvard.edu/faculty/stein/papers/Thy_Neighbor_04.pdf

Best,
Alif Shirali

--- chanchal khandelwal <chanchsrcc@...> wrote:

>
>
> Hello,
>
> Can u please give me some examples of herd behavior
> and what do u think is reason behind herd behavior.
>
> Is it only security?
>
> Thanks for your time!
>
> Chanchal
>
>
>
> ---------------------------------
> Do you Yahoo!?
> New and Improved Yahoo! Mail - Send 10MB messages!




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#6538 From: "Mr. Kevin B. Bantz" <kevinbantz@...>
Date: Thu Aug 19, 2004 4:59 pm
Subject: Re: Re: GOOG W/I $85-95
mrkbantz
Send Email Send Email
 
On Aug 19, 2004, at 12:38 AM, leif_ericssen wrote:

>
> --- In Behavioral-Finance@yahoogroups.com, "Mr. Kevin B. Bantz"
> <kevinbantz@m...> wrote:
>>
>>
>> I believe the psyche now looks upon Google as having
> trading "value"
>> with the when issued price
>> of $85-95, or is it just me.
>>
>> Comments?
>
>
> Well, at a PE of 292 I wonder about the mental state that
> sees "value"..

My reasoning was that the supply of stock was cut and the price too.
Usually in a dutch auction like wine, you offer a little bit, then
bring on the supply.
I figured that once the price was dropped, that was the floor and now
with even less supply
being offered, (for the time being) GOOG works on a ceiling now. Toss
in the masses poo poo of the deal
and Voila'. The makings of a contrarians delight.

The same can be said about the current state of the Crude oil Market,
the crack spreads are narrowing
and the spark ratio too. Crude/NatGas spreads are out of whack. Though
in a Parabolic phase, the higher
it goes, the lower it falls...

Bantz

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