August Meeting Notes

Hi Gang:
Here's a recap of our August 20th meeting. Up front, accept my apologiesfor the delay.Please acknowledge receipt of this message signifying that you have seen andread it.
Thirteen attended the meeting including one new member (Greg Salmon). Pleasejoin me in again welcoming him. There were 11 contributions totaling $89.00,bringing our cash on hand to $173.00. As of now I plan to requestreservations for October 22nd ((Fourth Wednesday) and December 3rd (firstWednesday). This last date is somewhat unusual because the fourth Wednesdayis Thanksgiving eve and we usually do not meet in December.I have received two communications from group members as follow-up to themeeting. Neither was posted on our blog (cfibd.blogspot.com)./-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/The first was from Alanna McHugh with very usefulinformation about UNG (the Natural Gas ETF) and PEG (the double ratio,Price/earnings - three year Earnings Growth):"I looked up UNG the natural gas ETF - and it is NOT company based, itinvests in natgas futures contracts that trade on the nymex which willexpire in the next month.Also , re PEG - under or over 2.0; it does not say that you cannot invest ina high peg company w/a good chart - it gives you an additional indicatorthat ; with a high peg (AND a good chart, you are purchasing 'momentum'.So, you want to have 'an out'. since we never want to turn a 'momentum' buyinto an investment."/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/The second one was from Kent Stallard on 09/03/08fulfilling his promise to document the trading of UNG with which he has hadconsiderable success taking advantage of the seasonal swings in the price ofnatural gas futures (NG NYMEX). NG charts:<http://futures.tradingcharts.com/javachart/NG/A8?returl=w2>"You had asked me to write a short blurb on my trading of the nat. gas etf,UNG. We have now seen the decline to the first buy point which was lastyears low around 33.20. I entered half my long position @ 32.90 this morning(09/03/08). I will enter another quarter around 31.50 and the remainingquarter @ cold 29-30 if we see that before Sept 15. At any rate I will befully long below 35. I am setting an initial target of 47 but if we have avery cold winter and/or another run up in energy prices, I could see movingthis target to 50 or 55. This trade should be closed by early summer at thelatest. Enjoy"/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/-/The next meeting of the Wilmington IBD Meetup Group will be on September 25,2008, and I will send a reminder before then. PLEASE NOTE THAT THE 25th ISTHE FOURTH THURSDAY. The unusual date is because L105 was not available onthe fourth Wednesday.
Your Organizer,Bob
Robert B Brownfield201 Yorkshire LaneWilmington, NC 28409rbrownfield1@ec.rr.com(910) 799-7887 or (910) 470-2724 (Cell)