COIN FLIPPING

CP OR TEK
The market seems not to want to fall and I would like to add a little more position, but I am having a hard time to determine between CP and TEK. Both are very good companies with very strong earning growth momentum. Valuation wise, TEK is expected to earning more than $4.0 for 05, resulting its forward P/E at about 8X. CP is expected to earn $2.6 for 04 and 3.25 for 05, resulting a forward P/E of 12X, which is slightly lower than its historical valuation of 13X-14X. Both are positively correlated to the increasing coal price, although impact to TEK would be more significant. While both have very strong earning momentum, CP seems to have better chances to have upside surprises due to its conservative assumptions of crude price (US$48), settlement of contract disputes, coal price, and freight rate (CP is sort of a natural hedge against oil and gas exposure). On the other hand, TEK will have to deliver its rather haughty earning expectation. Both have very strong pricing momentum, although CP just took out its all time high. Both are extremely economic sensitive, and if economies slow down, neither will perform well. I guess I have to flip a coin. I could not decide, so I add both.