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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (49860)11/23/2012 11:56:54 AM
From: E_K_S  Read Replies (2) of 78748
 
Lucas Energy, Inc. (AMEX: LEI)
Abraxas Petroleum Corp. (NasdaqCM: AXAS)
Samson Oil & Gas Limited (AMEX: SSN)

Bought back shares sold 31 days ago but at a much lower cost. I believe these E&P companies still have acreage that holds a lot of value and I plan to continue to stay with the investment. I have however, trimmed down the number of companies in my E&P basket. I will work on lowering my cost basis in the stocks I do own in the E&P basket and will try to be quicker on booking profits when they do present themselves.

I have another chunk of buy backs the first week of December providing me to lower my cost basis on a few other larger E&P companies that for me still present a value buy and hold. Typically I acquire these positions in lots of three or more different buys. When I work on lowering my cost basis, I will sell the high priced lot and in 31 days buy a lower price lot. Sometimes I will double up on my buy if I believe the new price is an extra ordinary "value buy".

EKS
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