Our current #1 position reports tomorrow AM; usually my methodology is to cut back on all positions ahead of earnings but due to the severe undervaluation in this name, I am keeping my entire stake going into the cattle call tomorrow. I'm not sure if this quarter will be "the one" or it will happen next quarter, but the current $3.14 EPS 2008 analyst estimate I find to be completely beatable, in fact by a large margin. I am hoping guidance tomorrow better reflects that. But even at the "$3.14" we have a forward P/E ratio of under 15 for a company growing well over 100% this year, and should be able to grow >50% for the next few years. At the $4.00 or so I believe it can achieve this year in EPS its trading under 12.Most peers trade at forward P/e ...

If you overlay the natural gas stocks over the coal stocks, it's the identical pattern since last Thursday, only with about half the gains... still some very nice moves for 3 days of work. Since my natural gas stake (3 positions, about 6%) is smaller than coal I am not taking any profits here, but once again just remember this the next time the 'early cycle', 'it will all be fine' folks start clucking. Let's compare Fannie Mae (FNM) to Cimarex Energy (XEC) Now, in the most recent period people were so fearful of financials that any news saying they won't be bankrupt was CHEERED - huge writeoffs? Better than expected! Take the stock up!... equity dilution? At least it's not out of business! Take the stock up! - but at some point the longer this goes (and it won't reverse in a quarter or two like many would have you ...