Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: kormac who wrote (58853)	1/21/2000 12:43:00 PM
From: ItsAllCyclical	Read Replies (2) of 95453

Small cap E&P's. Touting MEPX at $1 is certainly not hyping it. But I'll take 100% gain anyday. Given the questions outstanding with MEXP I'd rather take the profits and roll them into the next small cap laggard. Based on today's prices I've been adding to my EPEX, TEXP, CRK positions. One can buy MEXP today at 2x cash flows or they can buy PXD around 2.25x cash flows with far more safety on margin. It's a no-brainer imho. I'm treating these small caps like options. If I get a decent profit I'm rolling it over into the next laggard. I'd rather hold my large cap E&P's for long term gains and trade the small caps. I figure I can eventually write covered calls with the large caps and there's little danger of a dry hole sending the company crashing 25-50%...not so with small caps.

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