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To: Bridge Player who wrote (33299)4/22/2003 10:27:45 AM
From: Dale BakerRespond to of 118717
 
CPN has less hedging risk since they can use their own supply; they also have the option of cutting down power production and selling the NG on the spot market when NG prices are high and power margins are soft (like now).

Seems to be a win-win proposition. Whether it has a tangible impact on their bottom line, I don't know. CPN is a broad-brush story I am following as a general turnaround.

Stopped out of my SINA short for a 2-point loss. Gotta keep telling myself, don't fight the tape, don't fight the tape, don't fight the tape.