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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (51452)5/2/2013 3:02:43 PM
From: E_K_S  Read Replies (4) of 78743
 
Ainsworth Lumber Co. Ltd. (ANS.TO)
Ainsworth Lumber Co. Ltd. (ANSBF) -OTC Markets
Penn Virginia Corporation (PVA) - closed out small starter position

Started a small position in this Canadian OSB wood manufacturer. My bet is that they will benefit from a slow sustained U.S. real estate recovery as many of their engineered wood products are used in new construction.

Here is a link to their March 13, 2013 presentation.

Closed out my small starter position in PVA for a small gain. Need to reduce my exposure to oil stocks in the portfolio. I was surprised by the Crude Oil Inventory report yesterday. Will reenter position if/when WTI crude trades below $80.00/barrel.

Crude Falls as U.S. Supplies Climb to 82-Year High

FWIW, I continue to hold PSX as they are the beneficiary of the low Canadian crude prices. Their earnings were released yesterday where they stated QoQ refining revenues were +124%.

UPDATE 2-Cheaper crude helps Phillips 66 double quarterly profit

U.S. refiner Phillips 66 said on Wednesday that first-quarter earnings more than doubled as it used cheaper American- and Canadian-produced crude oil to make gasoline and other fuels.The company, which operates 15 refineries and has a large chemical business, said most of its crude came from Alberta's oil sands as well as the Eagle Ford shale field in Texas and the Mississippian Lime shale in Oklahoma.Using locally produced crude rather than importing from overseas, refiners keep costs low and margins high. Phillips 66 said profit in its refining unit jumped to $922 million in the quarter from $393 million a year earlier.

EKS
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