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Enron Mail |
i loved them in that i thought they were going to go up...i think they still
might 3 weeks ago now short term very bullish neutral medium term neutral neutral longer term neutral bearish From: Jennifer Fraser/ENRON@enronXgate on 03/06/2001 11:34 AM To: John Arnold/HOU/ECT@ECT cc: Subject: RE: what changed your mind re 02 and 03 --2 weeks ago you told me you loved them....why are bearish out the back? Jen Fraser Enron Global Markets Fundamentals 713-853-4759 -----Original Message----- From: Arnold, John Sent: Tuesday, March 06, 2001 5:03 PM To: Fraser, Jennifer Subject: Re: What it's trading what I think it's really worth apr oct 540 500 nov mar 547 375 cal 2 491 400 cal 3 460 325 Obviously most bearish the further out you go. However, the game right now is not sell and hold...although it will be soon. The game is where will it be tomorrow and next week and next month. The market is structurally short term gas thanks to our friends from california. where ca is buying power, williams and calpine and dynegy dont care of the gas costs 450 or 475 or 500 or 525. irrelevant. so term is not going down in the short term unless the front comes into the 400's and scares some producers to start hedging or we or el paso can find fixed price lng to the tune of 250,000 a day for 10 years. From: Jennifer Fraser/ENRON@enronXgate on 03/06/2001 10:37 AM To: John Arnold/HOU/ECT@ECT cc: Subject: what are your thoughts on ap-oct nov-mar 02 03 price levels and outlooks thanks Jen Fraser 713-853-4759
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