RE:

You've got that right. I'm am short all of the power and am getting frustrated. I am breaking all of the trading rules by ignoring the price action which continues to be somewhat bullish in power. There seems to be very solid fixed price support at these lower levels.

In particular, the NE markets refuse to go down despite the fact that Benson has been a fairly aggessive seller the past two days in the 02 and 03 period. For the 1st time in a couple of weeks, however, the cash market is showing signs of weakness.

Overall, I am very bearish and my position reflects that. Like you, I have worn some curveshift the past month.

-----Original Message-----
From: Herndon, Rogers
Sent: Thursday, September 06, 2001 2:01 PM
To: Presto, Kevin M.
Subject:

Kevin -

Weird price action today it looks like to me. Overall the Dow tells it all. Energy is going to have to get absolutely crushed and that will be the final blow that will ultimately allow this economy to get on the long slow road to recovery.

Rogers