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To: yard_man who wrote (51314)	12/26/2000 4:26:29 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

$9.805 on the January NG contract at the close: quotes.ino.com

To: yard_man who wrote (51314)	12/26/2000 4:29:56 PM
From: Archie Meeties	Respond to of 436258

It equates to something around $3/mmbtu. The market is in disbelief about NG and the herd of fund managers is just now waking up to the story. Institutional investment in e&p's is still low. My initial idea was to short the e&p's when $10 gas arrived, thinking that it would run like mad with the commodity. I'm revising this plan b/c of market inefficiency. The time worn play of going long some gassy e&p's and then hedging yourself by selling NG on the winter spikes is pointless - b/c e&p's are discounting $3-4 ng.

To: yard_man who wrote (51314)	12/26/2000 4:35:04 PM
From: patron_anejo_por_favor	Respond to of 436258

Oops! Sorry, Tip, I misunderstood your question, but I see Archi picked up the ball and ran with it... I agree, most NG producers are significantly underpriced even with NG spot at 5.00. AOG, MND and APC were all way up today. I'm starting to look at electricity generators with (relatively) less NG price input, such as EXC (which as you know has a huge nuclear portfolio...talk about BLOWING UP!!<GGG>) finance.yahoo.com Got Montgomery Burns futures?<G>