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Gold/Mining/Energy : Big Dog's Boom Boom Room

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From: Keith J4/16/2007 1:15:45 PM
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Lightened up today, took profits in CNQ, CHK, COP, AUY, and NTO. After what happened last spring, I'm still betting on a shoulder season selloff (happened last year in spite of solid oil prices).

VLO downgraded today. ESV downgraded today.

Confused by Lehman's move today regarding ESV and PTEN. ESV selling at 6.9 PE on 2008 earnings, PTEN selling at 9 PE - yet Lehman upgrades PTEN and downgrades ESV.

Just don't feel comfortable being over-over-weight energy here, not worth the risk.

KJ
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