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Enron Mail |
-----Original Message----- From: Scott, Eric Sent: Friday, October 05, 2001 8:55 AM To: Fraser, Jennifer Subject: FW: Morning Notes -----Original Message----- From: mfrazier@simmonsco-intl.com@ENRON [mailto:IMCEANOTES-mfrazier+40simmonsco-intl+2Ecom+40ENRON@ENRON.com] Sent: Friday, October 05, 2001 7:42 AM To: amoretti@nb.com; bob.bertelson@fmr.com; bzimmerman@forsmannleff.com; cevascu@ssrm.com; ckp@x2.com; cdavis@ridge.nb.com; courtney@cambinv.com; dwohl@wohlcapital.com; drice@ssrm.com; darren.maupin@fmr.com; dcalabro@mfs.com; dwpalmer@wellmanage.com; David_Thompson@Putnaminv.com; dshufrin@mfs.com; DWalsh@SSRM.com; ddougherty@ccgrowth.com; dpitcher@mfs.com; doug.nigen@fmr.com; eric_harthun@putnaminv.com; Scott, Eric; gleblanc@wellmanage.com; hward@essexinvest.com; jbevilacqua@wellmanage.com; jtozzi@bloomberg.net; jv@nb.com; kebandtel@wellmanage.com; kenright@mfs.com; kgreiner@dghm.com; kmiller@primebroker.com; ksettles@nb.com; hilerk@hmc.harvard.edu; ltsirlin@opcap.com; mregan@mfs.com; mpackard@mfs.com; mrussman@sageasset.com; mnohe@nb.com; Bradley, Michael W.; nick.tiller@fmr.com; pmmecray@wellmanage.com; rafaelina.lee@db.com; radelaar@forstmannleff.com; rrieger@kcmc.com; sprater@ridge.nb.com; scott.offen@fmr.com; trevor@cambinv.com; wfwanner@wellmanage.com Subject: Morning Notes Yesterday's move in energy probably the most interesting thing to talk about today. While the move from below 60 in OSX makes sense from valuation, timing still very suspect. In order of importance we would attribute the move to: Broader Mkt Commodities Firmness Geo-political situation Shrort Covering FEAR OF MISSING MOVE OFF BOTTOM Resistance levels: XNG right here. OSX 75ish Int'l Rig Count + 10 to 766 - We see a stabilization at this level in the world wide rig count. SII - had conversation w/ mgmt. Sept. business actually better than Aug. (Unlike BJS). They do expect downtick, and have seen lower utilization at bit plant.Additionally, they have repurchased stock. We do expect AGA to revise (upward) the 66b injection reported yesterday.
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