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

To: Paul Senior who wrote (43001)	6/27/2011 4:16:32 PM
From: E_K_S	Read Replies (1) \| Respond to of 78595

Hi Paul RE: Abraxas Petroleum Corp. (AXAS) Doubled up on my AXAS @ $3.04/share. Was waiting for it to break $3.00 but it never did so I stepped up today to add to my position. My E&P Basket of 20 stocks is only off 2% total since inception. I have added 10% to the pot at or near the recent lows. Many of the companies should report the status of their new wells in Q3 which should add value to my group of holdings. FWIW - Started a small position in GSTprA. This pays monthly like the MHRpC and MHRpB. Sold my higher cost shares in NYB. Stock just not acting well and with the GSTprA I can get a higher dividend that is paid monthly and hopefully have a better capital gain potential. NYB is no longer a top 10 holding for me. In fact, any move above $16.00/share, I plan to sell out. My current shares are at a low cost basis (around $12.00/share). The whole real estate market is impacting these regional banks even ones like NYB that deals primarily in multi-family units. Any raise in rates will significantly impact their profitability. Better to be out of the position than wait to see weak earnings and a possible dividend cut. EKS