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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: Scott Mc who wrote (4241)	9/18/2002 12:36:08 AM
From: bill	Read Replies (2) of 11633

Don't know if anyone is interested but here is why I picked up more AVN.UN today. "AVN.un has now hedged approximately 70% of its anticipated natural gas production for the period November 2002 to March 2003 at an average minimum floor price of $4.95/mcf. This floor price represents a 43% increase over the average AECO natural gas price received by the Fund during the past 12 months. These hedging contracts are consistent with the Fund's risk management policy which seeks to provide Unitholders with downside commodity price protection while retaining a significant portion of the upside." What I find interesting is that they'd hedged NG for $4.95/mcf. for the coming year. If anyone remembers, there were any number of posters (not on this thread) ranting about NG going to $1.00/mcf. One wonders if there are a disproportionate number of lunatics who post or if they really are shorting as some claim. I did some checking awhile ago and there is very little retail shorting. As they say in Calgary, "All hat and no cattle." That leaves me with lunatics. But it does seem that when house prices go up for awhile, for example, people act as if they will never stop going up and then are shocked when prices go down. Then when house prices go down for awhile, people act as if they will never go up again. So maybe it's just normal. However, if these people really believed that NG was going to 1.00 or that NT was going to keep going up at 124.00 really are buying and selling stock, it must be with a dwindling supply of funds. The value of this thread is that while we may make different choices, the discussion is pretty level headed.

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