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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: aerosappy who wrote (11220)	12/20/2001 2:34:47 PM
From: Winkman777	Respond to of 23153

Aero, my exit from drillers is based upon fundamentals, and the belief that the recent pop will not be long lasting. The AGA's get worse every week, and crude/product inventories are most likely going to rise. I correctly believed in and bet heavily on the strength of OPEC in the last couple of years. But I'm not at all sure that the new clean up hitter (Russia) is a team player. The economy (US and world) is also too unpredictable. What I do feel good about is the opportunities recently available in the IPP's. I've followed CPN for a long time. I currently own a medium position in stock, and have sold a lot of puts near the lows. If CPN goes to about 11.5, it will become my largest position ever at a net cost of about 8.5. Although I expect (have been wrong before) the puts to expire worthless. I also own MIR stock (buying more today) and have sold a few puts. I've sold or am selling calls on all my IPP stock. The volatility has made options very attractive. And I don't expect either CPN or MIR to get much above 20 in the next 6 months. All just MHO.