---------------------- Forwarded by Jeffrey A Shankman/HOU/ECT on 12/27/2000 
11:30 AM ---------------------------


Chris Mahoney
12/26/2000 05:47 PM
To: Jeffrey A Shankman/HOU/ECT@ECT, John L Nowlan/HOU/ECT@ECT
cc:  
Subject: BNP PARIBAS Commodity Futures NG & CL COT Reports a/o 12/19/00

any thoughts on why the funds have their smallest nat gas positions on in 
over a year?
margins too high, don't like the risk/reward, i guess are the two most 
obvious thoughts but
perhaps you have something more insightful.  I thought the momentum funds
would be longer at least in some of the deferred contracts.
---------------------- Forwarded by Chris Mahoney/LON/ECT on 26/12/2000 23:37 
---------------------------


michael.byrne@americas.bnpparibas.com on 26/12/2000 14:11:26
To: michael.byrne@americas.bnpparibas.com
cc:  

Subject: BNP PARIBAS Commodity Futures NG & CL COT Reports a/o 12/19/00




(See attached file: CLCOT121900.pdf)(See attached file: NGCOT121900.pdf)


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 - CLCOT121900.pdf
 - NGCOT121900.pdf