wilmott.com

hello,CB arb need two types of Oxygen to breath and live:1) high interest rates2) wide credit spreadsand both of them are still historically low. And thus it did not work and will not work in the coming year or so. Moreover, the market is still drunk of CB arb money ... you know, more money pouring in a strategy that it can handle ....Going forward and expecting higher volatility in the market, I believe long/short equity is a good strategy (for low volatility) and CTA (for high volatility)best of luck!

From here to the end of the year: long nat. gas and unleaded futures. Short SPDR's, QQQs, REITs, and mainline retailers. Unmargined returns on the longs, 30-50%. On the shorts, 15-25%. Not a bad move for 4 months or so.Mike

I'm still in these positions. Notice I didn't play the light sweet crude market - there's enough crude, but not enough refining capacity. The NG, HU and HO longs are sure to be huge winners - should be bought on pullbacks. The REIT shorts may take a while to pan out, but will be profitable.IMHO, the worldwide market is grossly underestimating the effects of Katrina in the energy area. Therefore, great opportunities being long here.Mike

Mensa, agree on you call with lite sweet, the problem is at the refineries not at the oil wells. MArekt fails to realise crude and refined products are different