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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (27326)	7/23/2007 5:20:47 PM
From: Paul Senior	Read Replies (3) of 78628

As well, I've bought a little BJS today. For me, I see it as kind of a plant-the-seed thing. As I understand the situation (and I may be quite wrong), Canadian drilling for natural gas is down substantially because the price of nat. gas is down (while expenses for extraction are up). Yet - and apparently inexplicably (?) there's quite a bit of drilling in USA. Odd (??) Anyway it's cyclical - imho. Demand for gas should continue (increase) and as fewer wells are added to service (from Canada), the price of gas should increase (ie. from increased demand/decreased supply), and that price increase should lead to a resumption in demand for drilling/rigs/BJS services. So BJS earnings and stock should rise...eventually in the cycle. Lot of "shoulds" there in this cycle, if it is a cycle. We'll know more in 18 months. All jmo, I could be wrong; I have been many, many times.

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