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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: SliderOnTheBlack who wrote (39984)3/10/2005 7:06:16 AM
From: Ed Ajootian  Read Replies (2) of 206303
 
Slider, Could you offer some tickers for E&P's that you have shorted? I share, to some degree, your views about the energy markets being overvalued, particularly for E&P companies whose production is heavily weighted toward gas vs. oil. I nevertheless am still holding a very large portfolio of E&P companies, and thus am looking for other ones to short to reduce my net exposure to the sector.

One company I believe is particularly overvalued is Meridian Resources (TMR). I once had a very large long position in this company but have sold all but a token amount of shares. They had a very bad year in '04 with the drill bit, and I believe when the harsh reality of the modest amount of '04 reserve adds comes to light when they issue year-end reserve #'s on Tuesday the stock could take a header. The stock is selling down in anticipation of the 4Q earnings/reserves announcement.
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