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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: isopatch who wrote (4274)	11/20/2001 6:46:24 PM
From: russwinter	Read Replies (1) \| Respond to of 36161

<Enron goes into the tank> Derivatives and counterparty risk. Will be a lesson here for the paper gold crowd.

To: isopatch who wrote (4274)	11/20/2001 6:57:13 PM
From: t4texas	Read Replies (1) \| Respond to of 36161

ceo resigned to spend time with family instead of doing time yep, enron's a falling piano. looks like the ceo left (what was it -- six months ago) to spend time sitting with his family rather than sitting for months in court rooms and then sitting in jail.

To: isopatch who wrote (4274)	11/20/2001 9:06:28 PM
From: Roebear	Read Replies (1) \| Respond to of 36161

isopatch, Would have been an OK daytrade. Amazing how support levels work on even a Dead Cat. That was a decent bounce from 7.21 and change to 10.28 (intraday high/low 11/7+9 to 11/14). I'm talking here of the bounce it got on Nov 9. Course it chewed through quite a few support levels till it found one that held (15.50 gave it a quickie bounce) and now that it has busted the 7 buck level, having done so it is now too STINKY a Dead Cat for even most quick time traders, IMO. Even with gloves and a shovel, ggg. A look at the action and massive volume that ENE generated yields interesting FA/TA thoughts. With it's DCB, did the smart money wait till a calculated FA valuation and then jump in on TA support? Were they smart enough to get out and were they buying on the way down (not smart!)? Did the TA support work because it was there or because everyone saw it was there? I was watching the tape on it when it turned at 7 and change, there was a definite buying surge where a vacuum only had been so far that day. Actually didn't take that much volume to move it the first half buck or so, must have been a shock that someone was buying it, ggg. But more like MM/SmartMoney games and short covering. If you don't want to ride it all the way into the dirt you have to cover sometime. Just a tidbit for discussion. But like another poster, I believe it will have ramifications for derivative players in other sectors. I'll be busy and away from the PC for the next few days at least, and will not be able to respond to any posts for a bit. So Happy Thanksgiving all, Roebear