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To: SliderOnTheBlack who wrote (65394)	4/27/2000 3:13:00 PM
From: Think4Yourself	Respond to of 95453

He said that they hedged because there is NORMALLY a slump during this shoulder season. He also said that, although this has always happened in his past experience, he was not so confident it would happen this year. They hedged because they could lock in a second record quarter during what is historically a weak quarter. I see no flaw in his logic. Their stated goal this year is to maximize shareholder value. The hedge does exactly that. They don't need to care what happens to NG prices this quarter. Very smart move IMHO.