Sold much of my royalty trusts today - ERF, SJT, PVX, PGH, and some NCN. Keep some in taxable accounts that have low cost basis.
Bought a little KCS (a small, debt -heavy NG E&P) since it has increasing production, stock holding up well today, and they will do great with even $4.50 gas.
Still very bullish on gas, but the royalty trusts got WAY ahead with almost vertical charts (see SJT for a nice clean chart, NCN for near vertical part)
I expect big storage builds next 2 weeks will damp enthusiasm, just like after the March price run up.
My biggest holdings are now on the small cap E&P side, TMR, CWEI, KCS, CRK, a little ROYL & GASE, and medium cap E&P THX
After the royalty trust drop some more, I plan to buy back most of what I sold. May move to the Canadians which aren't on US exchanges, since they seem to ahve a discount to the dual traded RTs |
