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To: chic_hearne who wrote (39270)	11/20/2000 12:19:35 PM
From: pater tenebrarum	Respond to of 436258

it IS a hedge. all commercial positions are supposed to be hedges. for our purposes what is more important is the other side of this trade, i.e. speculators being net long 72k contracts. they're getting their heads handed to them...

To: chic_hearne who wrote (39270)	11/20/2000 12:23:44 PM
From: Archie Meeties	Respond to of 436258

In retrospect, I should've shorted all the CLECs... NorthPoint Communications (NPNT) is off 75 cents, or 18.2 percent, to $3.38, after the San Francisco digital-subscriber-line services firm restated its results for the third quarter due to the "deterioration of the financial resources of certain customers" since its report October 26. The company reduced reported revenue to $24 million from $30 million and widened its EBITDA loss to $90.9 million from $79.2 million. NorthPoint has also halted the installation of DSL lines for the customers in question. The company is working to transfer lines installed for delinquent customers to other well-financed customers.