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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: Ed Ajootian who wrote (109267)9/13/2008 5:34:59 PM
From: kollmhn  Read Replies (4) of 206223
 
Ed-

I think you left off reason number 4 ( for the selling)

Hedge funds are unwinding leverage and are facing redemptions as well. Many that shorted the dollar bought energy as a hedge. I happen to think it is THE biggest factor in what appears to be indiscriminate selling and is producing some very attractive bargains.

I'm curious.........are you still long BOGA, END, PRC?

I recall buying some BOGA a few weeks ago at $.56 and you suggesting that would be the last time that opportunity would arise. Guess what? On Friday I lifted a $.24 offering. This, not long after Loeb paid $.72 for 66% of the company.
Go figure.

AS for low risk income investments, check out utility preferreds. The pfd market has gotten whacked and with only a 15% tax rate you might find the net acceptable. Certainly, there is no worry about your investment blowing up but, then, I doubt you will be able to stay away for vehicles that offer greater returns for long. gggggg
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