Good morning! The Hang Seng index was down over 3%, and PTR down another 3%.

AVN_u.TO closed up another 18 cents to close at C$19.53, another new high.

http://finance.yahoo.com/q?s=avn_u.to

NLY closed at 17.76, up from a low of 16.83. The dividend (2.00 per year) works out to 11%. Not bad at this bargain price.

Received $45 for holding 300 shares BR.

At the close, CEO is up 55 cents (42.80); PTR is up 4 cents (49.87). Both are headed lower.

See AVN_u.TO (to cite one example):

http://finance.yahoo.com/q?s=avn_u.to

Oil and Gas stocks still up but gains today are modest. Net gain (so far) is another 1.5%.

Chinese oil stocks up 1-2%. CEO up the most (43.52 +3%).

Petro China head quits over gas blast.

http://biz.yahoo.com/rm/040413/energy_hongkong_petrochina_1.html

AVN_u.TO closed at a record high.

http://finance.yahoo.com/q?s=avn_u.to

New gas and oil highs include AVN_u.TO, BR, COP, ECA, PBR, many others...

Energy companies on a tear today. Even PTR is up 2%. Market knows that higher profits will follow.

Energy stocks demonstrate relative strength. (Briefing)

Quotes just 6 of many stocks trading at new highs today...

Biggest oil winner in my port so far is PBR, up another 2.5% to 35.25, a record high.

Six of my oil and gas stocks at new highs today.

Hong Kong is closed today.

Kurt Wulff's latest letter:

April 6, 2004 (posted Apr 11); Meter Reader: The Myth of OPEC

http://www.mcdep.com/MR40406.pdf

ERF and AVN_u.TO are two of the Canadian Energy trusts in my port. (Also have CVX and SC, among others - SC is cheap at current prices.)

AVN_u.TO closed at C$19.10, a new high. Other domestic gas and oil stocks added to their gains to close an average 2% higher.

PTR declined 1 cent at the close.

GI was responsible. Good for the other refiners...

Sold 300 shares PEET at 22.09...

Every gas and oil name in my port is up. NEM is below 45.

BP, CHK, ECA, UPL upgraded by different brokers this morning.

The "H"-share index and PTR closed green.

Zeev - When I learned that UCL owned the MBTE patent, I dumped it.

BP at 65 is in the cards. (I'll sell the 65 APR calls tomorrow.)

PTR closed 5 cents lower (50.05). BP (downgraded by Deutsche Bank) closed 16 cents higher at 53.59...

KMG is an "offending member" today, but up 2 points from low.

Not all oil service holders are equal. KMG is down over 4% on takeover of Westport...

POG object of Gas takeover. POG to a new high but acquiring company
down 4%.

Future Gas acquistions - POG, WGR, UPL, BR, other names...

Uptick in Crude Oil (to $36.22/bbl) due to DOE reserves, which showed an unexpected 2.1 million drop in U.S. supplies.

Got second lot PTR @ 50.10... (Now I'll relax.)

TASR - Moves to highs of day. Traders hoping it will top 100. Briefing.

Bought 100 shares PTR (so far) at 50.10...

BR moves to yet another new high.

http://finance.yahoo.com/q?s=br

After 45 minutes of "downgrade" BP is down 13 cents and moving up... (53.30)

ACH is down 1.35 points (90.45). (Aluminum prices are down this morning.)

CEO and PTR are down less than 1%; PTR down 10 cents at 50.32.