I said it last week, and I’ll say it again, Money is flowing into oil service. You can find breakouts all over the place, take a look at NOV:
iBC code: Long energy short everything else.
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damn… haven’t looked at NOV in a few weeks. I had $70 July calls at one point.
funny, I almost bought this one this morning. Maybe I’ll grab it on the retest/pullback after I cash out of SLB.
Actually, I’m probably going to look for another name to buy near the close. What do you think of HERO and OII?
ATW looking good.
check out NOA, moving up
RC,
take a look at PX, it’s breaking out, TODAY, time to get in! It’s not so extended like the oil srvc names yet.
FWLT looks good too.
Hey : look at uranium stocks ‘urre’ looks good
Taking half my AMGN off the table here, had a nice run.
no options on it, but buying MXC, just for the heck of it…
I figure the breakout will be too huge to buy, and it moves like nothing I’ve ever seen.
A compulsive buy, perhaps?
I’ll probably be out of it if it doesn’t break by sometime next week.
i bought some ROYL on the press release this afternoon. could run tomorrow.
FTK seems to be stuck in the 20-22 range and not benefitting from the oil services breakout…..
well it did run from 16-22 in the last 15 days. I would call that benefitting.
RAGIN (GU)
Gushan Insiders Already Cashing Out (GU)
Gushan Environmental Energy Limited (NYSE: GU) has filed to sell up to $100 million in ordinary shares, which it notes as having a HK$0.0001 par value (HONG KONG). This notes that selling shareholders are selling ADS’s, with each share representing 2 ordinary shares.
This is an unspecified number of shares but based upon a closing price of $11.78 (-6.5% today) of nearly 8.5 million shares. Gushan will not receive any of the proceeds from this offering.
The underwriting group here is rather large for a $100 million secondary offering. Merrill Lynch is the lead underwriter; co-managers are listed as Oppenheimer, Piper Jaffray, and as Ardour Capital Investments.
Gushan is supposed to be the largest biodiesel producer in China as measured by annual production capacity with a target of annual production capacity to 400,000 tons by the end of 2008.
Shares are down 0.5% at $11.72 in after-hours trading and the market cap as of the close was $982 million. Gushan has only been public since December 2007 and it traded under $10.00 at the open. Its post-IPO trading range since the IPO has been $7.00 to $17.95.
i’m looking at TTES as a potential svcs play. it’s already up a bit, and i was hoping for a bit of a sell-off, but after that goldman news today, it could run. volume has been creeping up.
Aris,
love it & own it.
nice. any lift on the drilling ban sends that stock way up, even from here, i think.
Hell just froze over. I flipped the channel over to Mad Money tonight, just in time to see Cramer recommend some French company that does 4D seismic studies…CGG.
French? Egregious.
4D? Is he kidding? That shit is so expensive to do, and time consuming. Part of the reluctance by the majors to do 4D is that much of the initial cost is tied up in the buried cable on the ocean floor that is needed to monitor changes in the reservoir as the oil and gas are produced.
From what I understand, it’s not as widely an accepted technology as he makes it sound, and the cost is prohibitive for everyone except for the majors.
I’d take Cramer’s rec with a grain of sea salt.
i’d rather play SLB than screw around with CGV.