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

To: Ed Ajootian who wrote (28783)	1/6/2004 10:47:41 AM
From: Bread Upon The Water	Read Replies (1) \| Respond to of 206325

Ed, A Feb Call on REM is a very short time frame for significant movement. You must be expecting some positive news very shortly. Of course if you buy the 20 call and you don't get the news you still get to purchasae the stock at less than what it is currently listed for--was that the idea? Bill

To: Ed Ajootian who wrote (28783)	1/6/2004 6:21:33 PM
From: quehubo	Read Replies (1) \| Respond to of 206325

Ed - You can say what you like. Earlier you were considering shorting PTEN around $27 if I recall correctly. Since you have been on this board for sometime, one would expect that you would make informed comments stocks many of us are heavily invested in. The RIG counts are sitting at their highest level of the cycle up so far this week. What has been changed substantially is that as a result of steep production declines E&P's must drill more and more each year just to maintain the same production. There are many E&P's, but there are only two land drillers that dominate the land drilling market. In 2004 the E&P's will have to decide how bad that want to deliver more gas into a $5-6 market. Because the price inflection point for land drillers is not far from here.

To: Ed Ajootian who wrote (28783)	1/7/2004 6:27:25 AM
From: quehubo	Read Replies (1) \| Respond to of 206325

Ed: Thanks for the tip. I will keep my eye on REM. It certainly has not moved much all year, maybe its time has come. I dont mind small positions with near term calls. I rolled my WFT Jan 35 calls yesterday after a 50% gain into Feb 40 calls. I think WFT has an easy 10% gain here to catch up to its peers multiples. The extremes in the weather seem to be moderated, but the 15 day forecast is sill all below normal. The above normal weather along the major northeast cities is gone today so no we will see what the daily pulls are per Robry. NG futures are trading on parity with #2 oil still here. I think this is very significant riding the ceiling as it indicates real scarcity. If the weather holds and storage looks like it is targeting too low sa <900 bcf maybe we get higher to encourage fuel switching. I imagine yesterday's spot pricing was well high enough to force fuel switching to #2 oil. WHo would be foolish enough not to have bought their Q1 fuel ahead? I imagine the spot market now will be for peak generators, when needed that should drive NYC area prices over $100 MWHR.