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To: Think4Yourself who wrote (82257)	12/20/2000 11:03:52 PM
From: ezspkns	Respond to of 95453

JQP, Tommaso and all - Thanks for the fine discussion over the past week about gas pricing and valuations. Frankly, my initial thought about a near term top in E&P gas prices was brought about by JQP's bold "I'm not selling" statements, along with NG prices bouncing off of $10 and a disconnect to share prices. A bonus was the chance to learn about those trans-oceanic pipelines and bike paths....har har. Plus all those full pipes. When did everyone start selling gas by the MMCF/D anyway??? I have one little toe in the water with some deep out EOG puts. Its not time yet (unless Mr. Bear, Mrs. Bear and the whole bear family raid the cabin). The thing is we've had quite a winter so far, and my memory says that it is the rare winter which doesn't give us a break. Place that break, say sunny 30's - 40's over the northern tier of states in mid Jan, taking out a block of degree days, with recession talk and a need for profits and its possible NG and related issues go south. But then again the break could have been the past few winters. Energyplay in #81789 summarized it well, IMVHO. Any extended price / volume surges will be a cue to perhaps get in up to my knees. And perhaps I'll feel a bit more bearish after the next round of earnings and reaction to them. Finally, to be clear I am looking for short / intermediate term option moves, where clearly others have a different outlook and goals. Just one ignorant public view. EZ