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To: Bearcatbob who wrote (71233)	8/20/2000 12:23:41 PM
From: isopatch	Read Replies (2) \| Respond to of 95453

Bob. Yes. Have found that doing this for a living also works best, at least for me, by playing "two games" as you put it. My largest position is actually on the conservative, LT non-trading part of the portfolio: Hugoton Royalty Trust which was spun off by XTO. The symbol is HGT. Nice tax dodge<g> with very high monthly distributions that have been steadily increasing and driving the share price from my $9 basis (av in Dec 99'-Jan 2K) to current mid 12s. Long term expect it to go much higher. So for a total return LT investment it may end up being a shot that not only goes "out of the yard" but up onto the roof of the stadium, lol. HGT is one of several positions where am completely comfortable riding out even intermediate term corrections because my investment objectives on the conservative of the portfolio are entirely different than on the speculative side where do my best to work the intermediate cycle mostly in sm to mid caps. BTW, like PQUE VERY much. It's currently my largest position among my bevy of sm cap NG E&Ps. IMHO it's just started an important intermediate/long term run. Best Isopatch