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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (34111)	4/8/2009 6:31:39 PM
From: E_K_S	of 78702

I took a little off the table today for GGB and OSK. finance.yahoo.com I am shifting some holdings to reduce my average cost basis and raising some more cash since I believe there could be another buying opportunity soon. I expect some selling into April 15 (Tax season) and then perhaps some type of 10% correction into May but who knows. I plan to have sufficient cash to nibble at several of these beaten down stocks so I can establish some very low cost positions. I have had a few recent buys that I have held into rallies with over 30% gains which round tripped on me. Better to book the profits now and try to re-enter at lower levels. I am also skeptical on the Treasury's stress tests which are to be released shortly. There may be some surprises which could spook the market. Finally, the housing sales numbers are grossly understated by the shadow foreclosures banks still own. It's just going to take more time for the air to come out of the bubble. Banks aren't reselling many foreclosed homes Carolyn Said, Chronicle Staff Writer Wednesday, April 8, 2009 sfgate.com From the article"..."We believe there are in the neighborhood of 600,000 properties nationwide that banks have repossessed but not put on the market," said Rick Sharga, vice president of RealtyTrac, which compiles nationwide statistics on foreclosures. "California probably represents 80,000 of those homes. It could be disastrous if the banks suddenly flooded the market with those distressed properties. You'd have further depreciation and carnage."...". ============================================================== If you are still buying different preferred series please post as these are high on my buy list. The bid ask spreads and low trading volume make them difficult to buy at rock bottom prices. BLACK HILLS CP (NYSE: BKH)is another one I am watching and a $15-$16 price is where I would like to make my first buy. EKS

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