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Strategies & Market Trends : Value Investing

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From: E_K_S	12/3/2012 3:05:25 PM
	of 78740

Double Eagle Petroleum Co. (NasdaqGS: DBLE) - Closed out position Magellan Petroleum Corporation (NasdaqCM: MPET) - Closed out position SUPERVALU Inc. (NYSE: SVU) - peeled off 80% of high priced shares CONSOL Energy Inc. (NYSE: CNX) - peeled off 50% of high priced shares goo.gl A bit more end of the year house cleaning. Gave up on DBLE and MPET and closed out these positions for a loss. May revist them in 31 days but I am not that excited by their land holdings as SSN. My buy back in SSN (doubled up on my already large position) only 5 trading days ago at $0.55/share is up big. The stock has been running higher on very heavy volume with the lat price at $1.15/share (+ 110% from my buy on 11/28/2012). Gave up on SVU but do hold a large position in their 2016 8% bonds that I bought at a 20% discount. I will hold onto a stub position in the common so I follow the pending Private Equity buy out. Sold my high priced shares on CNX. This is one I want to re enter at $30.00/share or lower in 31 days. They do have some very good NG assets. I an not that excited about their coal holdings. I own no pure coal plays as these coal stocks have been hammered perhaps due to the proposed Obama "carbon" tax. I continue to get fills for more PWE at $11.00/share and ERF at $13.25/share. I now hold shares of PWE in both the IRA and the taxable account. I continue to build a core position in ERF in the taxable account. EKS

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