Some Sector Punts And Stock Updates
posted Feb 18, 2005 at 05:45PM
ENE, MIG, ADB, BNK, OIL are all energy stocks that I sold for a profit only to watch zoom on up.
The standard rationale, and I have said it myself, it to swallow pride and buy back in even at higher prices. Easier said than done.
Now a common theme among the above was that most were stocks that had undegone severe retracements or had completely retraced any gains from the energy bull when reality failed to meet heightened expectations.
So again I am on the hunt for stragglers who are showing potential of catching up. Two punts for your consideration. These are NOT at optimum contrariarian technical buy points...I look at them more as sector plays.
A grassroots exploration company which provides exposure to both coal and uranium, and coalbed methane Some "hot" almost faddish sectors. Most of thier properties are in Canada - ergo little political risk. Pattern suggests consolidation after an initial surge.
Picked some up last week at 43. Pretty volatile intraday.
A penny still in process of getting its act together. Market reacted in ho-hum fashion to acquistition news. My hasty back of the envelope calculations show some fundamental value is not being recognized here. Picked some up this morning at .245. Again looks like a consolidation pattern after an initial spurt.
I am not religious on this one.
The one energy stock I did not sell. I think stock is still undervalued and has great potential. I am of the mind that oil sands are going to be really big in the years ahead. I plan to use any deep retracements to add to positions.
Mentioned recently..showing some signs of life. This thing though will need a sustained gold sector run and some exploration results to really get going.
A gold exploration company with Chinese properties. Let's roll them dice!