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To: Lee Fredrickson who wrote (22173)	5/16/1998 6:47:00 PM
From: jbe	Respond to of 95453

...The current manoeuvre (sic) has seen the spread between June forward paper cargoes---the current basis for pricing--- and July paper somersault from a 30% discount barely a week ago, to a 30 cents premium now.... What the....? Does anybody out there understand that? On second glance, however, I suspect that if you knew (I don't) what "forward paper cargoes" were, you'd have no trouble deciphering this sentence. And just because you do not understand something, does not necessarily mean that something nefarious is afoot. Incidentally, Lee, you're a gas! "Will walk through tarantulas to avoid..." My sentiments exactly! jbe