Enron - Natural Gas Industry Message Board

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Gold/Mining/Energy : Enron - Natural Gas Industry

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To: RGM who wrote (1131)	12/5/2001 1:56:54 PM
From: Robert Graham	Read Replies (2) of 1433

Do you have an account authorized to short stock? This is a separate agreement with your broker. Call your broker. You will now not be able to short Enron. Enron is a penny stock now. I believe there may even be SEC regulations regarding this. My last account was with Interactive Brokers. In my opinion, any position in ENE now is a pure gamble since their top mgmt cannot be trusted. Their top mgmt. has proven themselves to be liars. ENE is, in essence, a service organization. If any service organization loses their credibility with their customer base, they are not going to obtain orders from those customers in the future if those customers have a choice in who to do business with. Reasons not to go long. But definitely no reason to short. I assume you are thinking of Enron as a short candidate NOW? If you are, then continue reading. To me, it is just common sense that ENE shall eventually go out of business due to their current lack of credibility with customers and investors. I see you are letting your feelings enter the picture here. I can tell because the word "common sense" entered your thinking on evaluating this as a short candidate. You know how many times I have heard this and seen the shorter lose? Even though the end result may have ended up exactly as they predicted? Try something close to 99 out of 100. Shorting stocks is very difficult to do and the person has to have a well developed skill of timing their short. Fundamentals are only part of the picture. And in the current situation with Enron, the financial picture that may lead to bankruptcy is a process that occurs over a period of time. Meanwhile "facts" and sentiment will determine the price of the stock. This sentiment will be the most significant influence on the price of this stock. Sentiment is based on perceived facts and feelings, which do not follow a logical course as is reflected in the price of a stock. What intrigues me is that you are thinking of this now, AFTER the stock has sold off. The risk of a short at this point has gone proportionally UP. Odd and backwards way to look for making money. And over the long run, unworkable. Where was this thinking after the business arrangement with DYN was disclosed to the public? That would of been the time to short the stock. I exited my long position in the stock shortly afterwards. You have already passed the window of opportunity on this one. Please consider what I have said here. I hope this helps. :-) Bob Graham

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