Gold bullion ETF. He likes precious metals in either the bullion format or a precious metal stock. His target price for gold is near $1500 in the next 12 to 18 months.

This company has adopted the income trust model for the North Sea but is a corporate structure. It has taken the fields that have been discarded by the majors and are producing very nicely at their low cost structure. 30,000 barrels this year giving them $3/$4 cash flow and hopefully 63,000 next year giving close to $7.70. Have 2 offshore rigs and are hoping to buy a 3rd to get them to 100,000 for $11 a share.

Given the price decline and that they should be one of the top dogs in the forthcoming auction, he likes this one very much.

(A Top Pick May 2/07. Down 7% including dividends.) He would be buying for new accounts when he got into buying financials again. Dividends are increased regularly. Hold. This is the area to be if you are a long-term investor.

(A Top Pick May 2/07. Up 61%.) Sold his holdings, but would probably repurchase under $60.

(A Top Pick May 2/07. Up 7% including distributions.) 8.5/9% yield.

Likes the pipeline area. Inter Pipeline (IPL.UN-T) and this one are 2 of the cheapest on a price/cash flow basis. Recently made an acquisition of a New York City power plant. This will cause some dilution, $.04 this year and probably $.07 to $.08 next year. Will also have to issue 32.5 million shares, which is a 5%/6% dilution. Wouldn't buy until you see the charts forming a base.