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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (46913)	3/28/2012 1:22:37 PM
From: E_K_S	Read Replies (1) of 78515

IONA ENERGY INC (IONAF.PK) -Other OTC EXCO Resources, Inc. Exco Resou (XCO) -NYSE Joined you for a tracking position in IONAF. MY GTC order got filled at $0.495. Hopefully in 18 months they will have discovered lots of NG, w/ NG well above $5/mcsf and everything is good again. For me it's a value play and may take time to pay off. FWIW, doubled up on my XCO position. My strategy is somewhat similar but I have bee selling the June $8.00 covered calls on any rally (my last batch I sold for $0.75). The option premium reduces my cost basis and allows me to buy more shares as the stock falls in price. Even as NG falls to 10 year lows, XCO has a valuable asset in the ownership of their Midstream pipeline operation. If cash flow gets really bad, they will sell this. On that action, I probably want to close out the position. Currently the position is still quite small. So, both buys are speculation that (for me) NG is historically cheap and buying both of these names allows me to play on this theme. Warning, I have been wrong in the past and will also be wrong in the future. I could very well be wrong w/ this investment theme. Just don't bet the ranch. EKS

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