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To: CommanderCricket who wrote (84706)	5/17/2007 2:39:59 PM
From: CommanderCricket	Respond to of 206323

petroglyph, CWEI thread investorvillage.com Rueters: US Gulf mogas price spike draws more arb cargoes Read thru underlined bit at bottom... US Gulf mogas price spike draws more arb cargoes NEW YORK, May 17 (Reuters) - At least two European gasoline cargoes were diverted to the U.S. Gulf Coast from the Northeast on Thursday after the sharp price spikes in the Gulf and the Midwest, traders said. More cargoes were expected to follow suit later Thursday and on Friday as prompt Gulf Coast and Midwest gasoline jumped significantly and outpaced the gains in New York Harbor prices. "Two more cargoes are diverted today due to the stronger prices in the Gulf Coast," a trader said. "Some traders are trying to divert more cargoes." The latest arbitrage move follows a diversion of about 14 European cargoes from the New York Harbor to the U.S. Gulf Coast last week. The bulk of the first arbitrage wave to the Gulf was triggered by Glencore, a privately-held Swiss trading firm, some traders said last week. Those cargoes were expected to be delivered to the tight supply market in the Midwest. Cash prices in the Gulf Coast and Midwest got buoyed by new refinery snags and bullish gasoline inventory data. Gulf Coast gasoline for C29 loading was traded at 24.5 cents over New York Mercantile Exchange gasoline futures, referred to as the screen, early on Thursday, compared with a dime over at midday Wednesday. Gasoline last traded late Wednesday at a premium of 15-16 cents. Group 3 prompt gasoline rose 6 to 7 cents to 51 cents over the screen. New York Harbor gasoline for prompt loading was slightly stronger at 4.5 cents under the screen. Harbor cash prices have been moving sideways in the past few days due to a lack of fresh leads. "There's nothing new (in the harbor) to send it up. We will need a shock like the Gulf and the Group have to go higher," a second trader said. While more cargoes were being diverted to the Gulf Coast this week, European gasoline export bookings to the U.S. have fallen by about a quarter in May versus April as several cargoes headed for alternative destinations like West Africa and the Middle East Gulf. Storage terminals along the U.S. Gulf Coast owned by Magellan Pipeline, the major conduit to the Midwest, reported a 36-hour delay for ship discharge. The Kinder Morgan terminals on the Gulf Coast, which connects to the Explorer Pipeline and the Magellan Pipeline, are experiencing a bottleneck for cargo discharge as well.

To: CommanderCricket who wrote (84706)	5/17/2007 2:45:00 PM
From: miraje	Respond to of 206323

We are now just getting back to even on for the large cap sandbox stocks like SU, CNQ, ECA I'm holding all of the above and am just itching to write some CC's on them. But, as you say.. IMO, we could a lot higher especially if spot shortages start showing up or a hurricane decides the GOM would be a fun place to hang out for awhile. Would be nice to have a crystal ball.. :-)

To: CommanderCricket who wrote (84706)	5/17/2007 3:23:19 PM
From: profile_14	Read Replies (1) \| Respond to of 206323

NE is on fire. Up 20+ points in 2 months. Was the stock so mispriced just 60 days ago? The same goes for all others... I don't think so. I think this is a blow off top being formed.

To: CommanderCricket who wrote (84706)	5/17/2007 3:33:20 PM
From: profile_14	Respond to of 206323

True, but it is still speculation. A wager on the bet that ... It is not sustainable as it always reverts to the mean. A swath of money will come in, squeeze it higher, and ebb out just as quickly. WE HAVE BEEN GOING UP FOR 5 MONTHS IN A ROW NOW. 5 MONTHS!!! When was the last time we did it from high levels?

To: CommanderCricket who wrote (84706)	5/17/2007 4:10:16 PM
From: falconflingagain	Read Replies (1) \| Respond to of 206323

Ahhhh, greed or fear ? I'm in my usual little Skinner box, trying to find my way to the end. I am up 6 % just for the day ! I think you may be right about it going higher, but it makes me very nervous. I'm already at about 55 %cash so I don't really want to take any gains right now. I guess there are worse situations to be in. G