Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Madharry who wrote (34974)	8/3/2009 11:48:19 AM
From: Paul Senior	Read Replies (1) \| Respond to of 78744

I'm taking the bearish side of the natural gas view, Madharry. We're (USA) loaded with the stuff. This horizontal drilling thing has enabled going from shortage to excess (imo). A lot of producers seem to me to be showing profits because they're hedged through 2010 and to lesser extent in subsequent couple years at prices that were favorable for nat gas in 2008. Those hedges come off though, and imo, prices will be at marginal cost of production with so many producers and so much available to be produced. This opinion is coupled with my broad exposure (over commitment) to oil/gas stocks and my weariness (and wariness) in holding on to losing positions even though the stocks have rallied somewhat. Many that I own are still down more than 50% from my buys in past years -- a few e&p's down more than 80%. I have reduced some positions today: Closing TLM, PWE, HTE; cutting NFX, NXY, NBL.