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Even if the first part of the summer is weak, people will be hesistant to sell the back half.
dev34
Same with the winter.
dev34
That's why I'm long H2.
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It has good correlation with the front on up moves and tends to hold value on the down move.
dev34
i am free for drinks after work but have dinner plans
dev34
it's one of those theoretically great trades, but those don't always work.
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Still, I'll put it on and win 7 times out of 10.
dev34
just so hard for the market to rally the backwardation is so weak.
dev34
can easily see h going under if no weather appears.
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Yesterday, Aquilla sold March at 5.77 and 5.76 for HeHub.
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Please change it to Nymex
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i'll check
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Will change
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Please change as indicated
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Ina: Can you get a small drink refrigerator for the office stocked with: Water (lots) Diet Coke Coke Dr. Pepper Diet Pepsi Various Fruit Drinks Thanks, John
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I would do that.
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I tried calling but got your voicemail.
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Try me at 713 853
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Andy: Can you remove ICE from mine and Mike Maggi's computer.
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Also, do we have a list of who has it installed.
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I hate supporting our competition.
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John
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both.
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i have it on dutch's machine just in case something ever pops up but it rarely does
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We will open EOL 4-7 on Monday for everyone's trading pleasure.
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We've started breaking out separate P&L's.
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It's been a very difficult process so far for a number of reasons.
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The last processes will be separating out the P&L on the executive reports and on VAR.
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That will happen this week.
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Meanwhile, the P&L will be retroactive to the start of the year and we are going through all the positions such that the total skew is zero or an adjustment will be made to get it there.
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At the end of the year there will be a number next to Maggi's name that he will not dispute.
dev34
His contribution to the fixed side when I'm on vacations or in meetings will continue to be a subjective process.
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Looks good except for settlement period.
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Industry standard and for ease to Enron, a spread trade is treated as two separate trades.
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Therefore, there will be two settlement periods for the respective legs of the transaction.
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The file below states settlement period is 5 days after both legs have been set.
dev34
Please change to 2 settlement periods, 5 days after each respective leg has been set.
dev34
John Enron North America Corp.
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Michael: Appreciate the idea.
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However, with my natural long, I'm not looking to really trade around the position.
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I believe ENE will continue to be range bound, but in case it is not, I don't want to forgo 50% of my option premium.
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I have price targets of where I would like to lighten up exposure to ENE and will use calls to implement the stategy.
dev34
To that regards, I noticed I was not approved to sell naked calls.
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I would like that ability in order to hedge some exposure I have of unexercised vested options.
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Please look into that for me.
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John.
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Thank you.
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Andy: Enjoyed meeting with you.
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One more thing I did not address.
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My ultimate goal is to move all volume to EOL.
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However, in addition to the NYMEX, we have about 6 other viable electronic trading systems.
dev34
We make it a point to never support these if possible.
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We will only trade if the other system's offer is at or greater than our bid.
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For instance, if we are 6/8 but have a strong inclination to buy and another system is at 7, I will simultaneously lift their 7's and move my market to 7/9.
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The lesson the counterparty gets is he will only get the trade if I'm bidding 7 and he will only get executed when it is a bad trade to him.
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People have learned fairly quickly not to leave numbers on the other systems because they will just get picked off.
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If they don't post numbers on the other systems, the systems get no liquidity and die.
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I mention this because I have heard that Enron is a fairly large trader on Spectron's system.
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I don't know whether it is in regards to gas, power, or metals.
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Just something to think about and maybe talk about with the other traders.
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John
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I think so in a month or so.
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Problem now is that there is so much customer buying on any pullbacks and selling on rallies that the market, with such a flat curve, is going nowhere.
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That will change, but it's going to take a while.
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I like it eventually.
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that's not nice
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Are you free for drinks either Monday or Wednesday?
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Monday it is
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i'll call
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Kim: 2 tix for Rent this Sat night will be waiting for you at will call at the theatre.
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Bring ID.
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If you have any problems call the ticket agency at 212 302 1643 or me at 713 Have fun, John
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Michael: Thanks for putting the paperwork together.
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I would have interest in meeting if you can present unique investment opportunities that I don't have access to now.
dev34
Most of my contact with financial advisors in the past has consisted of them suggesting a mutual fund, telling me to invest in Home Depot, Sun, and Coke, or trying to pass off their banks' biased research reports as something valuable.
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The above services provide no value to me personally.
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If you can present opportunities such as access to private equity or hedge funds, or other ideas with strong growth potential and low correlation to the S@P, I'd listen.
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John
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Appreciate the opportunity to listen in. I was unable to view the slide show though.
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Can you either email or mail it to me.
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Thanks, John
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yes i did
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Just a reminder about drinks Monday night..
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not really...
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already have plans on thursday .
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are you going to the NYMEX candidate cocktail hour Tuesday?
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He just rescheduled to Wednesday.
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How about dinner on Wednesday after that ?
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Who cares??????
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How about drinks at 5:30 on Thursday.
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I try not to interrupt work with personal business.
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i'm free all week right now.
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prefer early in the week
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true
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Would prefer a stand alone button as sometimes the problem is I can't operate stack manager.
dev34
I need the ability to force everybody out of the website so people don't try to click numbers that are old.
dev34
On a similar topic, what's the status of the out of credit message?
dev34
Still a very frustrating problem for both counterparties and me.
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Do I need to follow up with Bradford about lowering sigma?
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Grab me Thursday afternoon to talk.
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