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

To: Paul Senior who wrote (31899)	9/3/2008 5:14:09 PM
From: E_K_S	Read Replies (2) \| Respond to of 78627

CVX is my top position in both the IRA and taxable portfolio. This is after peeling off some shares in the $100 range. Many of my oil and commodity shares are down 30% from their recent highs. My cost basis on the group is very low as this sector comprises several core holdings I began to establish in the late 80's. Long term I am still positive on the group especially if they continue to raise their dividends over time. The recent correction is good for any longer term sustained rally to continue. I continue to watch PBR and RIO. I agree with you on Lula, the Brazilian President. Of the foreign countries with large oil reserves and natural resources, Brazil has one of the most stable political environments. The key challenge for the government is to spread the economic wealth to the middle and lower classes. The economy will grow larger and longer if everybody participates. There definitely is a rotation under way out of oil and commodities which I believe is fueled by these hedge fund liquidations. The hedge funds amplify the price moves both higher and lower. EKS