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Strategies & Market Trends : 50% Gains Investing

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To: Dale Baker who wrote (64061)	9/11/2008 3:42:58 PM
From: Dale Baker	Read Replies (2) of 118717

Someone asked me why I added to PRC today and here was my response, FWIW (since I have clearly been wrong about PRC the last couple of bucks down): "Obviously I made a mistake holding on to my small cap energy positions and giving up paper profits for losses now. Why did I add now? Because every way I look at PRC from reserves to profits to projected revenues, it seems incredibly cheap at $40m market cap. All those factors can grow in the coming year as they drill more, and they have the financing in place to do that too. This is one of those cases where I decided to buy and be hopeful when everyone else was feeling max pain and fear. That said, I don't plan to add to any other energy names, and my PRC position is still just 1.5% of my portfolio. It will take patience to see the benefits from my buy, most likely several months at least. Hopefully by December, it will be higher and less prone to tax selling."

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