FYI. I sent this monday 4pm if you hear any rumblings. Jeff
---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 10/23/2000
04:15 PM ---------------------------

From: Jeffrey A Shankman 10/23/2000 04:14 PM

To: John L Nowlan/HOU/ECT@ECT, Don Schroeder/HOU/ECT@ECT, David J
Botchlett/HOU/ECT@ECT, Chris Mahoney/LON/ECT@ECT, Ross Koller/LON/ECT@ECT
cc:
Subject:

It seems to me we are in the middle of no man's land with respect to the
following: Opec production speculation, Mid east crisis and renewed
tensions, US elections and what looks like a slowing economy (?), and no
real weather anywhere in the world. I think it would be most prudent to play
the markets from a very flat price position and try to day trade more
aggressively. I have no intentions of outguessing Mr. Greenspan, the US.
electorate, the Opec ministers and their new important roles, The Israeli and
Palestinian leaders, and somewhat importantly, Mother Nature. Given that,
and that we cannot afford to lose any more money, and that Var seems to be a
problem, let's be as flat as possible. I'm ok with spread risk (not front to
backs, but commodity spreads).

The morning meetings are not inspiring, and I don't have a real feel for
everyone's passion with respect to the markets. As such, I'd like to ask
John N. to run the morning meetings on Mon. and Wed.

Thanks. Jeff