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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: Peter W. Panchyshyn who wrote (1393)9/10/2001 9:33:11 AM
From: mark calgary  Read Replies (3) of 11633
 
Regardless of pricing the big point that everyone has missed is that given todays prices you have had many top oilmen in the region pull the pin. JC is no one's dummy, and Gulf letting go at this point should be a strong signal to all. The commodity price structure is not going to get better in the short run. The Americans are buying from perceived need for tying up supply for the future. The Canadians are selling because of perceived price instability. Being slightly biased I think the Canadians are right.

The recent prices for natural gas are much lower than they have been, and if you understand the storage situation, there is only a couple more weeks of storage left before you begin to see well shut-ins. This will impact the price further as companies scramble to protect cash-flow. THIS IS A SHORT TERM SITUATION THAT WILL SORT ITSELF OUT IN THE NEXT 6-9 months. Add to that the instability in the Middle East that seems to get worse every day, and you realize that oil prices are only where they are because of OPEC.

I have been into the trusts for the last couple of years and we have all had a great ride on the them. It would be foolish not to take at least all profits off the table given the supply and pricing situation at this time.

For those following the thread that are thinking of buying in at this time I would recommend you wait at least a couple of months before purchasing any O&G trust. When the big boys are checking out now is not the time to jump in.

100% cash

Mark
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