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don't know what to think of this summer longer term.
dev34
certainly not as easy as it was last summer when it was obvious $3 was not equilibrium for gas.
dev34
now $6 for this summer, i don't know.
dev34
we're gonna have to inject the hell out of gas and keep some demand priced out for a long time.
dev34
but we will feel production increase hit the market.
dev34
just buy vol.
dev34
i said i'm a vp and run natural gas derivatives trading and she asked if she could eliminate derivatives because then she'd have to write two more sentences about what that was.
dev34
i don't ask...i think he think he'll jinx it if he talks about it.
dev34
speed on eol message for monday how to move to algorithms dave or tom moran
dev34
telerate on my computer at home is not working.
dev34
can you get fixed?
dev34
john
dev34
I'll be there
dev34
of course.
dev34
i think you have a few favors in the bank with me.
dev34
do you need 4 or 8?
dev34
we'll do it next time you're in town.
dev34
thanks, john
dev34
no thx i'll send them soon
dev34
try jshankm@enron.com john
dev34
checking to see if you're still on for dinner.
dev34
wine room at aldo's at 7:00.
dev34
drinks at your place before?
dev34
john
dev34
Tom: My assistant spoke to Judy Smith about myself and my partner grabbing an extra seat on the jet to Tampa.
dev34
My partner and I were invited to the game by a couple of gentlemen from New York that I do business with.
dev34
Unfortunately, since I run the nat gas derivatives desk and February expiration is next Monday, the only way we could go is if the jet were coming back Sunday night.
dev34
No commercial flights would get us back in time.
dev34
Judy indicated it was fine if we caught a ride on the way back, so my contacts in NY booked the trip, including buying game tickets.
dev34
I am now hearing that you may be leaving early Sunday night.
dev34
I was just wondering if your plans had firmed up.
dev34
Obviously, it would be tremendously helpful to me if the plane were leaving after the game.
dev34
Please advise, John
dev34
fine
dev34
Hey: Sorry I've taken a few days to respond.
dev34
Just the more I think about it, the worse of an idea it seems for both of us.
dev34
There is nothing good that can come of it either professionally or personally.
dev34
I still regard you as a good friend.
dev34
Nothing has changed that nor do I think we need to act weird around each other going forward.
dev34
Something I think we both wanted to try and we did.
dev34
Maybe best left there though.
dev34
John
dev34
Gentlemen: The following champagne is available at 70% of approximate retail price.
dev34
Also have interest in trading for red wine.
dev34
Retail prices derived from Spec's website or Winesearcer.com.
dev34
Wine has been stored at temperature controlled private wine storage facility.
dev34
Quan Vintage Wine Retail 3 1990 Perrier Jouet Brut Fleur de Champagne 110 Any interest??
dev34
Hey: Any interest in King Biscuit after work??
dev34
huh?
dev34
Greg: Somehow I talked Lavo into it.
dev34
Can you reserve your jet for this Sunday around midnight?
dev34
Thanks, John
dev34
Guys: We are going to run EOL on Sunday from 2-4 pm due to the big game.
dev34
Can you post a message on EOL to that respect.
dev34
John
dev34
Andy: I just briefed Lavorato on the credit issues.
dev34
His comment was that Bradford is going through defcom 3 over California right now and to give him a week when things start to get sorted out there.
dev34
John
dev34
Please respond to Jennifer
dev34
you're done
dev34
check with mike and dutch.
dev34
can they come any earlier?
dev34
thank you four you're note.
dev34
i am only twelv years old so i wont bid anymore.
dev34
i am sorry.
dev34
Contact Andy Rowe at 713 966 2107.
dev34
They are a medium term fundamental energy player.
dev34
They have never indicated any interest in anything besides nymex or hub gas daily, but that may change.
dev34
They have interest in trading on EOL but have not gotten approval yet.
dev34
i will try to get tomorrow.
dev34
if not, is another day okay?
dev34
i got 2 for tomorrow.
dev34
we have 4 do you want them?
dev34
agree guys are short h/j.
dev34
hard to see a big move with cash/futures trading flat.
dev34
agree that it has some squeeze potential though.
dev34
Started moving today as, simultaneously, march started running up and j aron won a big customer deal.
dev34
customer, maybe a hedge fund, bot 1000+ jv 450 puts.
dev34
weather frustrating me too.
dev34
a little long but it's in the backs so I haven't been hurt.
dev34
Sure would be nice to get some more weather and have this thing start going crazy again.
dev34
Seen liquids processing come back on at these levels.
dev34
Would guess more than 50% has from peak.
dev34
Industrial demand different story.
dev34
industrial economy just so weak that many petchems and others are burning less because of their markets, not fuel costs.
dev34
Chrystler is a prime example.
dev34
Any switching back to gas from industrial or switching back to domestic production from overseas muted by weak economy.
dev34
quit pressuring them i want to sell some too.
dev34
actually sold a few at 9 on the close
dev34
i actually started writing this on thursday.
dev34
got distracted and left late morning to go to Vail.
dev34
Apparently I missed a little craziness.
dev34
My point on v/x is that forward spreads, months 3/4 and back, don't necessarily trade on value, they trade on drawing a forward curve that makes equilibrium between hedging and spec demand.
dev34
Look at k/m...
dev34
do you think k cash will average 3 cents above m.
dev34
i don't really see that scenario.
dev34
yet that's what it is worth because the market says jv is worth $x and to get there k/m=3.
dev34
The same argument applies to v/x.
dev34
i think this summer will be exceptionally strong as we try to inject 2 bcf/d more gas than last year.
dev34
But cal 2 will lag the move.
dev34