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

To: kodiak_bull who wrote (44392)	5/27/2005 3:43:03 PM
From: Umunhum	Read Replies (1) \| Respond to of 206338

Interesting blurb from the lastest Raymond James report: "Survey says: U.S. natural gas production fell 1.3% year-over-year, rose 0.2% sequentially. As stated above, our survey suggests that after adjusting the data for acquisitions and divestitures, U.S. gas production fell 1.3% year-over-year. Production rose a slight 0.2% sequentially, largely due to the end of many Ivan related shut-ins. There is plenty of volatility in these quarterly numbers. Still, these results do suggest that the recent decline rates we observed for U.S. gas production are moderating. Despite the moderating trend, we still think that production will continue to decline for the foreseeable future. The EIA is recognizing this as well, following multiple downward revisions, with its current data for full-year 2004 now showing a year-over-year production decline of 1.1% for the entire industry. This is much more believable than EIA data showing a production rise in 2003. Remember: Our surveys cover ~50% of U.S. gas production. If this is in decline, expecting growth from the small, mostly privately held, producers outside our survey does not seem feasible. Production declines continue, despite continued growth in drilling activity. Despite the 40%+ increase in drilling activity over the past two years, it seems clear to us that U.S. natural gas production continues to fall. This is contrary to what many of the gas bears have been suggesting over the past year." I just picked up 50 Jan '07 CVX strike price $55 for $6.1 each. I'm up to 170 calls on CVX so I need to start diversifying into other companies. CVX calls are too cheap in my mind. I also picked up 5,000 shares of CHK, 2000 shares of SU and 2000 shares of NXY. The momentum indicators I use went positive yesterday. I am still anxiously awaiting the '08 options which should start trading next Tuesday.