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Strategies & Market Trends : Value Investing
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To: Grantcw who wrote (40727)3/23/2011 1:05:31 PM
From: E_K_S  Read Replies (2) of 78670
 
Hi Grantcw -

Re: CONSOL Energy Inc. (CNX)

Started to hedge some of my Coal and NG positions. Sold some covered calls; CNX Oct $70.00 ( got $2.25/contract) to generate some income. This stock has been all over the board in the last 6 months ($35-$55). Based on the assets they hold, I figure fair value is around $75.00/share.

Also sold my Plum Creek Timber Co. Inc. (PCL) REIT Timber play for a small profit. I put the proceeds into MHRpD which is the new 8% preferred. It pays their dividend monthly like the preferred C series. Since these are IRA funds, there is a bigger need to generate income which this does at twice the rate.

Both companies played into my theme for natural resources but PCL never really panned out. Lucky to sell that one for a profit.

EKS
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