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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (19435)	7/16/2004 4:16:05 AM
From: Paul Senior	Respond to of 79293

Eric Strohmeyer, I have no target price at which I'll stop buying, although I agree that at current price XOM is pricey, and maybe buys by value players should be curtailed. (XOM is unusual for me, because I continue to add when the stock hits new highs. Normally I'd be looking to trim positions at that point.) I've no sell target on this one. If I could get myself to believe the stock might double every seven years (a compounded 10% growth approx.), and with an increasing dividend every year, I'd never want to sell.

To: E_K_S who wrote (19435)	7/16/2004 4:32:10 AM
From: Paul Senior	Respond to of 79293

Eric Strohmeyer: I've tried to maintain a number of positions among the large integrated oils. Sold MRO way too soon, but I'm holding on to my CVX shares. RD holds no interest to me. (Apparently they have independent business units with not a lot of central oversight. This has facilitated and encouraged overly positive oil reserve estimates. For me, I'm not willing to bet on restructuring and/or cultural change. Jmo, I could be wrong, as I have been many, many times before.) Paul Senior (also have small positions in REP, OXY, COP among the integrated producers) ----- And fwiw, an oil stock I've added to recently is CHK. I'm attracted to the insider buying.