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

To: isopatch who wrote (5030)	12/7/2001 10:47:26 AM
From: Cogito Ergo Sum	Read Replies (1) \| Respond to of 36161

Hi Isopatch, Too much Kinross here, it's become sort of an albatross. I'm methodically reducing a good chunk of the position for other vehicles. So far some has been exchanged for BAY and GLG. Looking to add more FAX or FAP.TO and other dividend issues and keeping more cash for trading the likes of NT and BBDa etc.. Basically I'm reducing my exposure there in a losing position. I've already got to keep a steady eye on NG re: all those trusts of mine. I'm scrutinizing those positions closely and as they go ex-dividend will decide if I'll continue to play chicken with NG prices. The dividend payouts are nice and hefty still but good hedges notwithstanding they'll still drop with sustained lower NG prices in anticipation of hedge expiration. NG doesn't appear to have bottomed as I had hoped. The weather certainly is having an extreme effect this year so far and any remaining 'winter' may simply not be enough given storage levels etc etc.. I'm no longer sure that the champ won't go the distance as the challenger appears to be finally on the ropes :o) regards Kastel