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Gold/Mining/Energy : Canadian REITS, Trusts & Dividend Stocks

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To: Scott Mc who wrote (2884)	3/18/2002 9:32:26 PM
From: Lorne Larson	Read Replies (2) of 11633

My own opinion is that the senior energy stocks are overbought, and the oil and gas trusts are probably still buys, but getting a little toppy. However if you think the energy stocks are where to be right now, the juniors are worth a look. Compare the prices of the seniors, trusts and juniors now to where they were in May/June of 2001 when we had $10 NG and $35 oil. The seniors are above their values back then, the trusts are somewhat below, and the juniors (for the most part) are way below. Have some VTU which I bought at $3.10. Looks good to $6 to $7 in the next few months if prices hold. Looking to buy some others. RER is worth a look. As for non-oil and gas trusts I've bought some SPF over the last 10 days to see if I can dividend strip the .70 April dividend. Also bought some ACF.UN. Nice looking trust that is very thinly traded. Of the new trusts the only one I've bought is LIV. Not that impressed with the recent offerings. Reminds me a bit of 1997/98 - except back then they were selling them by installment receipts. A whole rash of new IPO's in any industry is a classic negative sentiment indicator.

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