Message-ID: <23736450.1075857585861.JavaMail.evans@thyme> Date: Mon, 11 Dec 2000 08:51:00 -0800 (PST) From: john.arnold@enron.com To: slafontaine@globalp.com Subject: re:summer inverses Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: John Arnold X-To: slafontaine@globalp.com @ ENRON X-cc: X-bcc: X-Folder: \John_Arnold_Dec2000\Notes Folders\Sent X-Origin: Arnold-J X-FileName: Jarnold.nsf amazing how with cash futures at $1 and the back such a piece that f/g under such pressure. month 2 has been the strongest part of the board all year. will be interesting to see what happens when h/j is prompt. could j actually be strong? seems like of the spreads on the board the best risk reward is in f/g. a little worried about having the z/f effect again. that is, all spec length trying to roll and funds trying to roll at the same time leading to some ridiculous level at expiry. any thoughts? slafontaine@globalp.com on 12/08/2000 12:05:54 PM To: John.Arnold@enron.com cc: Subject: re:summer inverses i suck-hope youve made more money in natgas last 3 weeks than i have. mkt shud be getting bearish feb forward-cuz we already have the weather upon us-fuel switching and the rest shud invert the whole curve not just dec cash to jan and feb forward???? have a good weekend john