NOV: The Gift

Right now National-Oilwell Varco, Inc. [[NOV]] is trading below $75.

***Updated Projected Path***

Gustav has brought a buying frenzy to energy related names. Let’s take a look at high volume movers:

Oil & Gas Equipment and Services

1. Halliburton Company [[HAL]]
2. Schlumberger Limited [[SLB]]
3. Baker Hughes Incorporated [[BHI]]
4. Weatherford International Ltd. [[WFT]]
5. National-Oilwell Varco, Inc. [[NOV]]

Oil & Gas Drilling and Exploration

1. Petroleo Brasileiro SA (ADR) [[PBR]]
2. Patterson-UTI Energy, Inc. [[PTEN]]
3. Nabors Industries Ltd. [[NBR]]
4. Transocean Inc. [[RIG]]
5. SandRidge Energy Inc. [[SD]]

Independent Oil & Gas

1. Chesapeake Energy Corporation [[CHK]]
2. XTO Energy Inc. [[XTO]]
3. Anadarko Petroleum Corporation [[APC]]
4. Petrohawk Energy Corporation [[HK]]
5. EOG Resources, Inc. [[EOG]]

Cowen is out positive on Energy Conversion Devices, Inc. [[ENER]] saying they expect Q4 EPS to meet or beat our 20c ENER estimate (vs. St. 16c), based on revenue and margin upside, with operating expenses (ex. restructuring) below consensus. Continue reading…

I bought National-Oilwell Varco, Inc. [[NOV]] & Petrohawk Energy Corporation [[HK]] at the open.

[youtube:http://www.youtube.com/watch?v=SptB3STL5rs 450 300]

Hat tip: Howard

There are many great names on sale in my opinion, but you must be able to look out a few months/years out. Normally I don’t speak much about my portfolio(s), I only mention my quick trades.

Beneath the surface, I have been building a portfolio with stocks that have took it on the chin. I use smaller position sizes and add to them as they fall lower.

Here are some names in that portfolio: NVIDIA Corporation [[NVDA]] , VMware, Inc. [[VMW]] , Chesapeake Energy Corporation [[CHK]] , Google Inc. [[GOOG]] , Yahoo! Inc. [[YHOO]] , E TRADE Financial Corporation [[ETFC]] , Valero Energy Corporation [[VLO]] , and now Chipotle Mexican Grill, Inc. [[CMG]] .

Suntech Power Holdings Co., Ltd. (ADR) [[STP]] was in this portfolio, but it ran so fast I had to take profits.

As traders, we should not limit ourselves to one avenue. For instance, I have 3 separate accounts:

The first one is the roth IRA, one in which everyone should have. I use this account for stocks I evaluate on a fundamental basis and have a longer time frame. Typically the stocks in this portfolio have lower betas, and many pay dividends. This is the account I rarely speak of, mainly because it’s slow money.

The second is my swing account. In this account, I add positions I intend to hold for a few days or even weeks. This is also the account I place stocks that have been crushed, like VLO, NVDA, ect.

The third, is my trading account. This is the one you hear me write about all the time.

The point I’m trying to get across is that there are opportunities to be had all over the marketplace. A year from now you will be kicking yourself when GOOG is back over $600, or VLO back at $50.

The market is cyclical in nature, don’t forget to take advantage of the dips.