I thought it was as well...for the most part. I only would disagree with the point that the author thought TAL would only pull back to $42. Obviously no one is perfect but with the way oil was effecting all markets, I would have called it a little lower. But regarding PAOC I think the author is right now. At the time of the article, the contributor cited the spread as $1.90x$2.06 and now the spread has really tightened up: $1.96x$2.00...I bet something starts to happen soon.