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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (29144)	12/4/2007 12:58:04 PM
From: E_K_S	Read Replies (2) of 78665

Upped my position in ERF. The proposed merger adds significant natural gas reserves to the Trust. Once operations are consolidated, they should be more efficient and therefore get more production out of the same amount of operating expenses incurred. Reduced by half my TRGL holdings. Their gas exploration results are not too positive and they continue to spend money on dry holes. I may revisit next year once they get some of their new wells into production. I will take the loss on half of my starter position. Cut my holdings in BBD by half for a small profit. After watching the trading activity, I believe I can re-enter at a lower price (below $30). Near term I expect the $US dollar to rally (dead cat bounce) which may provide for an excellent entry point to rebuild my position. I am hedging a lot of my other Brazil stocks and booking some gains (VCP, ARA, PBR) as they have had a good run this year. Over 100% better than the S&P. finance.yahoo.com More end of the year house keeping to be completed. Stay tuned... EKS

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