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

To: Paul Senior who wrote (47257)	3/30/2012 3:02:12 PM
From: E_K_S	Respond to of 78671

I have been holding off too. Still like their distribution system (looks like that part is worth $3.50/share), they own a lot of real estate and FCF still positive which is used to pay down debt. No large debt payments as they restructured their obligation out through 2014 & 2016. The one problem I do see is a lot of Put options at the $6.00 and $5.00 that tell me dividend may be cut and/or smart money (could be the shorts) looking to have shares at lower levels. I may nibble at some shares once I see that lower lows are hit on lower volume. No need to rush in as I believe the opportunity will still be around in 2-3 months (or longer). Maybe the low is representing end of quarter value investors throwing in the towel. FWIW...peeled off shares for CVX, CNX, COP, VOG; closed positions in: GST, USEG, GASS, COR, EKCS. Doing my own end of quarter house cleaning. Building my cash position the largest since 2008. My E&P basket is now 12 companies strong and shows a 21% gain since inception. I am getting very cautious expecting a significant pull back considering all the world events (more riots in Spain last night). Cash may be the best short term value hold if bargains persist again like in 2008. EKS