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Strategies & Market Trends : Value Investing

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From: E_K_S	12/21/2011 4:16:17 PM
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Provident Energy Ltd. Ordinary (NYSE: PVX) - Sold high priced shares Linn Energy, LLC (NasdaqGS: LINE) - Closed out Position A few sales today going into the end of the year. LINE was the biggest position. To me it appears to be fairly valued selling near it's 4 year highs. Forward PE is rich at 18 and more importantly rising from its current PE of 16.65 (not a good sign for me). I plan to move the proceeds into the same sector. PVX near it's 52wk high. Like the company, like their focus on their pipeline assets and move out of Oil exploration. Company pays a good dividend from the free cash flow they generate. Peeled off my high price shares. I typically buy this (they new pipeline company) below $8.00/share. Until I have more results from their new operation (cash flows, dividend stability), I am selling my higher priced shares at the current level. Hoping to find some good end of the year buys to move the proceeds into. I have DE, MMLP & NSRGY high on my current buy list as well as SU which is a long term position I am building to replace my PBR holdings. EKS

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