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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: The Fix who wrote (18303)	2/13/2003 2:58:26 PM
From: Larry S.	Respond to of 206330

More from the FT today...one positive voice: from an article entitled "dow hits four-month lows",posted after market close last night...comment from a $1 billion hedge fund about the utility sector: " El Paso, the energy trader, was the biggest drag on the utility sector and the most active stock on the NYSE. Shares slumped 22.7 per cent to $3.65 after the company was downgraded by Moody's Investors Services. The negative news rattled the sector as rivals Mirant fell 1.2 per cent to $1.61. AES Corp shed 4.4 per cent to $2.83 and Calpine gave up 7 per cent to $3.07. Credit concerns also pushed Duke Energy, the second most active stock, down 8 per cent to $13.96. Despite the sharp losses in utilities, Rick Campagna, portfolio manager at Shaker Investments, a hedge fund that manages about $1bn in investments, said he believes the sector will recover. "The utility sector is getting killed because it's suffering from a hangover of having money losing businesses that companies are still trying to work off. But the sector should do better because it is a good cash-flow business," he said. "I've felt this way for the better part of three months but I may have come in too early because utilities are the losing part of my portfolio." For those who are not logged into the ft at www.ft.com it is free and a good perspective from out of the US. Worth signing up in my view. news.ft.com.

To: The Fix who wrote (18303)	2/13/2003 3:04:56 PM
From: russwinter	Respond to of 206330

Yes indeed on the Nigerian oil workers strike. Still up in the air, but certainly something else for the TOHOEs to chew over as they mindlessly jettison energy stocks this week. Might be a good time for a strike I suppose. One more thing to add to the list of: burning oilfields, Venz disruption, extreme NG and oil inventory rundowns, a late winter, supply erosion and a weak drilling response. Commentators on Fox News two nights ago predicted a revolution is coming in Saudi Arabia to boot: forbes.com