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

To: rllee who wrote (40253)	11/23/2010 3:55:44 PM
From: Dan Meleney	1 Recommendation Respond to of 78594

rllee, I think you posted this on the wrong forum: "Chart shows that it just broke its recent uptrend on a narrowing wedge formation which appears bearish." So many words there I don't imagine using here (chart, broke, uptrend, wedge, formation) and you used them all in one sentence.

To: rllee who wrote (40253)	11/24/2010 12:44:25 AM
From: Grantcw	Respond to of 78594

I'll bite on the technical analysis comment here on the value thread. :) I think as long as it's still holding support at ~20.5, I still feel pretty good technically, but I'm really buying this stock for several reasons: 1) I think Oil prices are heading up in 2011 and 2012 as demand starts catching up to total supply. Now that Oil is back down around $80, I wanted to start buying back into some positions. NXY has 85% oil production from my research. 2) NXY seems to be relatively fairly priced in relation to reserves, maybe even a bit cheap. 3) I like the fact that the company is large enough to warrant a potential acquisition from China or India as these countries look to secure supply. 4) I like that it hasn't rallied too much from its lows of the year and hasn't rallied much at all on the recent run of oil to the upper 80's. Still maybe at a value price. Thanks, cwillyg