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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks
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To: Tommy D who wrote (2522)1/24/2002 9:43:47 PM
From: Lorne Larson  Read Replies (2) of 11633
 
Tommy D: Well-reasoned post. Interesting to note that even though the post was not directed to Peter "Can't Lose", he immediately posts to you with a number of typical snotty comments. You have to understand that this guy regards any approach to the oil and gas trusts other than his own as an attack on him personally. Major personality disorder. I have had 5 private posts from individuals who at one time posted regularly on this site indicating that they will not be back because of this wacko.

As for shorting these things, from June through October it was a snap. You could short them just before the announcement date, and if they announced a reduced dividend the unit price would collapse. You could also short them through the x-dividend date. Lot's of people would hold them through the x-dividend date and than dump them. The drop in price was usually much more than the amount of the dividend you had to cover because of your short position. Also almost every one of the trusts announced offerings in September/Octoberr, always of course below the than current price.

Now its getting tougher. PGF and NCF both recently announced big cuts in their monthly distributions and the unit price stayed pretty firm. Perhaps a sign that we've hit a bottom on these things. I'm now net long, although I'm a little worried about NG prices. Looks like we're going to drop through $2.00 on the U.S. market for the first time in what, 3 years?

Regards
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