it's one of those theoretically great trades, but those don't always work.  
Still, I'll put it on and win 7 times out of 10.  just so hard for the market 
to rally the backwardation is so weak. can easily see h going under if no 
weather appears. 




slafontaine@globalp.com on 02/12/2001 09:41:04 AM
To: jarnold@enron.com
cc:  
Subject: h/j/k



 wish i had let you buy all of them-cash supriingly weak to me. so i bailed on
the postion lost about 7 cts-not a disaster but a disappointment.
flat px looks like a pig here depite my not being overly bearish the
fundamentals. we hold or they take it down more??