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Gold/Mining/Energy : Conoco (COC) - The biggest U.S. IPO ever -- Ignore unavailable to you. Want to Upgrade?

To: Weekapaug who wrote (87)	3/30/1999 5:14:00 PM
From: Night Writer	Respond to of 123

Weekapaug, I would feel a lot better if you had sold more puts. Selling the calls without owning the stock is risky at this point. Why did you sell calls? Do you see something I don't? IMHO It looks like the oil producers are getting their act together to reduce production. Also a refinery fire on the west coast is hitting the gasoline production right as we head into heavy driving season. I think oil stocks are going to benefit. Appears COC is raising money to buy stock from DuPont. If that reduces float, that is also good. It is better if COC buys shares and retires them. Wonder what the chances are of that happening. NW