El Paso stock is severely undervalued. However, that doesn't mean that it won't go lower. If you're willing to buy and hold, it would probably be a great investment over five years. It might also look terrible for the next five months. I don't know.
It also makes no sense to me that integrated oil companies' stock is not rising. With war looming in the Gulf, and oil and natural gas prices at relatively high levels already, their stock should be soaring. Instead, it's been declining.
I've read that the integrated oils are going down because the market is expecting Iraqi oil to flood the market after we take settle their little Saddam problem over there.
The EP chart looks like hell, but the fundamentals are irresistable. P/E=4 PEG=.25, and a 13% dividend!
I couldn't help myself. Call me a fool, but I just bought 1000 @ 6.94 for my 401(k).