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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Cogito Ergo Sum who wrote (1966)	11/16/2001 2:07:42 AM
From: bill	Read Replies (2) \| Respond to of 11633

Good for you. When the market tanks, relax, enjoy life. I probably averaged down again today too early. Impatience. Impatience. We'd broken through my buy level (6.50) for PWI. I paid 6.40. The wise guys say 15.00 a barrel. At that point producers like Norway start to shut down. Russia has been selling off assets at discount prices --nickle, diamonds, military equipment, etc.--and now it's going to sell oil cheaply. Nothing you and I can do about it. We just have to ride it out, make our moves as best we can. Hope you enjoyed your pumpkin pie and whipped cream. I know I enjoyed mine. Looked at the carnage today with the oil stocks and went to see a play called Tirandot. Good for some laughs. Even in the seige of Leningrad the symphony kept playing. Compared to that a few dollars down isn't worth missing out on good food and good entertainment. At least we're getting dividends.

To: Cogito Ergo Sum who wrote (1966)	11/30/2001 5:00:52 PM
From: LLCF	Respond to of 11633

Looking Beyond Current Weakness in Natural Gas —November 28, 2001 Merrill Lynch Natural Gas Analyst Donato Eassey offered these insights regarding weakening energy prices: Commodity pressures building. A warm start to winter and concerns of an unraveling OPEC continue to pressure energy commodity prices, and in turn, natural-gas stocks. Even as we remain quite bullish on both the long-term gas and crude oil price cycle, the near-term uncertainty has caused us to cautiously reassess our 2002 commodity forecast. Reducing near-term commodity outlook. We are reducing our 2002 natural-gas price assumption from $3.30 per million cubic feet (Henry Hub in Louisiana) to $3.10/Mcf, and our 2002 crude-oil price assumption from $25 a barrel (West Texas Intermediate spot) to $20 a barrel. Ultimately, we believe the U.S. economy will rekindle, and retrenched capital spending in the upstream gas sector could lead to declining supply. Consequently, we still remain confident in the longer-term price cycle, and are assuming $3.30 gas and $25 oil in our preliminary 2003 earnings-per-share forecast. As commodity prices go, so goes investor psychology. Long-term confidence is nice, but the single largest determinant for most names in our universe is commodity price (i.e. psychology) regardless of hedging, business mix and bottom-line EPS exposure. In general, for those with exploration and production operations, reduced earnings expectations and lower E&P sector cash-flow multiples have conspired to move several price objectives — and opinions — lower. Opportunity knocks. While the gas group may for a time be painted with the same broad brush, in reality a select few have been able to insulate their earnings from price fluctuations. These companies should continue to deliver, ultimately bucking the knee-jerk negativity. Moreover, our longer-term bullishness, combined with continued upstream consolidation trends, makes even our most E&P-heavy names appear attractive over a long-term timeframe. DAK