Enerplus Resources is Energized
by Sam Collins 06/25/08
Enerplus Resources Fund (ERF) -- This open-end investment trust, which owns a diversified portfolio of crude oil and natural gas producing properties in western Canada and the United States, rose from $17 to $59 in just three years.
But ERF topped off in mid-2006 and has been consolidating. ERF gave a positive signal in March when the 50-day moving average crossed through the 200-day moving average (gold cross). A breakout through its recent high at $50.63 could catapult the stock to much a higher level. ERF has a dividend yield of more than 10% and a price objective of $60.
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