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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Clappy who wrote (51668)	5/18/2002 11:01:25 AM
From: Joan Osland Graffius	Respond to of 65232

claptonsguitar, I have no idea if ADM is going to make reasonable margins in the Biodiesel business. FWIW, I think ADM is expensive at the moment and took 1/3 rd of my position off the table in the 15's. This stock has a huge trading range - during the last 2 years the range has been between $8 and $15 and one can trade it as a sardine. The most important business for ADM profits right now is the gasoline additive business. They have always worked hard in Washington to get legislation beneficial to the company, but the gasoline additive business is not set in concrete at the moment. I believe what happens with this will dictate the stock price going forward. There is some risk at the moment. This stock has been good to me. They send a small cash dividends and distribute shares to stockholders. Like the share distribution since I can manage these shares as long term capital gains. When the stock was trading at $8 the company was scooping up the shares and put a floor under the stock. They distributed them to the shareholders as a dividend. I was also scooping up shares at this price. <g> Joan