Message-ID: <31661383.1075852704960.JavaMail.evans@thyme> Date: Tue, 23 Oct 2001 06:33:37 -0700 (PDT) From: jennifer.fraser@enron.com To: john.arnold@enron.com Subject: RE: ng: z1,f2.g2,h2 Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Fraser, Jennifer X-To: Arnold, John X-cc: X-bcc: X-Folder: \JARNOLD (Non-Privileged)\Arnold, John\Deleted Items X-Origin: Arnold-J X-FileName: JARNOLD (Non-Privileged).pst 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?