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Gold/Mining/Energy : Enron - Natural Gas Industry -- Ignore unavailable to you. Want to Upgrade?

To: Raymond Duray who wrote (338)	11/1/2001 6:02:40 PM
From: James Calladine	Read Replies (1) \| Respond to of 1433

I don't hold any position in ENE, and never have. From what I read (and from the great reluctance of the management to be open about it), the limited partnerships (even if approved by their Board, and understood by their auditors) no doubt contain serious SKELETONS. If they had nothing to hide, why would they be still attempting to hide it? And it seems they are. So they now seem to be in a process to raise cash(by loans, pledged against major assets), presumably to deal with the immediate liquidity concerns of keeping their business afloat. There also seem to be the suggestion that this company has been tremendously involved with various and sundry aspects of the derivatives market. Just what their downside exposure in that dimension is, remains to be seen. I think we are seeing the spectacle of a major company which could blow up in front of our very eyes. Of course this is a company with connections into the central halls of power, but it could be that there is so much wrong at ENE that Mr. Bush and his friends will go out of their way to distance themselves from Mr. Lay and company. The shorts I am sure have done very well here. I don't imagine that they're finished yet. Every little bit of further negative news should mean serious profits for them. It will be interesting! Namaste! Jim

To: Raymond Duray who wrote (338)	11/2/2001 9:54:03 AM
From: CJ	Read Replies (2) \| Respond to of 1433

<<1) Yesterday's action was due to short sellers coming out of their positions.>> "Yesterday" was the 31st .. IMO, yes, it was as you wrote, but also window dressing, which {not directed at you, Ray} many people don't realize is not just driving a stock-up for EOM, it's also getting rid of positions for EOM ... and, in the case of 10/31, EOY for many Co's. <<2) Institutional selling resumed today due to the brief run up, and a glimmer of hope to chip an extra few percent. Or, rats abandoning a sinking ship?>> :) -- I don't think it's the rat pack. Yes, on the selling from the run-up, and the chipping. many of those who shed on 10/30-31, will be re-establishing; but, must always be aware of the short sellers. The present problem w/ENE is that has broken through previous lows, and is establishing a {likely, temporary} new range. **** V. SIGNIF. to me = it's 9:46 AM NOW, the low today is 10.91; if that holds, IMO, we've tested the 10.90, and have that part of the "range." <<This one is a doozy. >> LOL -- Sure is! I've often referred to "Roto-Reuters" {which I think I invented... but who knows}. That "spin" sure confirms why. Instead of ..2 notches above junk,.. why not...still investment grade..., etc. I did send the PM last night to f__c. If anyone wants it, I'll post or send a PM. Sorry for EOR rush .... need to leave. Regards & GL to the thread today ... more if anything significant. TGIF! Carol