RE: ng: z1,f2.g2,h2

JA:
I concur.
Producer shutins are BS- they have not felt any pain
Economic recovery is a no show
Im trying to understand next summer a little better

still owe u my notes on FP&L and AEP --will do when i Get back on Thursday

u still long GD? great job this month!

-----Original Message-----
From: Arnold, John
Sent: Mon 10/22/2001 11:25 PM
To: Fraser, Jennifer
Cc:
Subject: RE: ng: z1,f2.g2,h2

bearish still but a matter of timing. current rally a function of reshaping the curve with incremental stg still available to ecourage economic withdraws come december. think recent increase in bullish fundamental situation is more a result of price (1.80 in bid week) than anything else. Think that with this bidweek being, as we stand now, above resid and above the coal stack, fundamentals worsen considerably to the point where price must go down. Still very bearish first half '02.

-----Original Message-----
From: Fraser, Jennifer
Sent: Mon 10/22/2001 12:18 PM
To: Arnold, John
Cc:
Subject: ng: z1,f2.g2,h2

any thoughts?