PGO move is merely Kollmnh & DeafWhale buying in ...(roflamo)
They're obvious "Closet Followers"... allways were - allways will be.
Kollmnh arrived late to RRC - after "some" of us here rode it from $2 to $7 the first time and unloaded it to those arriving a bit late to the "Big & Easy Money" early cycle move; maybe this time Koll privately is getting onboard "early" for once (VBG) ?
...twas kind of rough arriving in RRC at $7 and then riding it all the way down to that $1 15/16ths that he (and a few others) allways seem to claim as their "coup"... I guess Kollmnh just forget to mention that while he watched the paint dry & rode RRC down from $7 to $2; the rest of the oilpatch doubled, tripled, quadrupled & quintupled all around him.
... yes; RRC "FINALLY" did move back to $7 and perhaps the old crumudgeon made a few schekels after finally breaking even while the rest of the Oilpatch printed nothing but money; but my money is that he'll roundtrip it back down to $2 twice in the same cycle (VBG).
- anyway; re: PGO
... this was, is and will continue to be - an "EASY TRADER". First; Management is NOT Institutionally friendly - they give little guidance and have managed expectations terribly; allthough Seismic and Deepwater have lagged in their expected recovery within this cycle as a whole... PGO is not alone - look at the Deepwater Drillers like RIG - or the deepwater service & const co's - they've all lagged the land plays and shallow water GOM/Gas levered plays as well; but now ! - they are clearly poised as the laggards with huge outperform upside to the early cycle leaders.
If Kollmnh & Deafwhale couldn't figure out how to trade this chart below: - God help them...and they ought to keep their simpletonian asses in mutual funds & bonds ~
finance.yahoo.com
I'd challenge anyone to find me a more classic, textbook - "rolling wave" stock to trade.
PGO from May 1999 thru this Sept '00 literally "tracked" that $15 to $20 channel like it was on rails...literally in a "trading groove" from $15 to $20 for15-18 mos.
If you couldn't and didn't trade this one - by buying near $15 & selling near $20 off the Bollingers - shame, shame on you & stay your old sourpuss ass in mutual funds, penny O&G plays, or mutual funds and bonds...where you belong ~
Let traders trade & let old farts watch the paint dry...
PGO is a DCB-chip shot - bank on it.
Institutions began to unload in mid-Dec; the stock blew off to $10 and then on about 4 million shares positive OBV; it bounced to $14; then on the actual warning - finally got completely washed outf to the mid $8's here of late.
Technically; we just needed to see that "rounded bottom" form on the OBV… now about 1 Million shares off the bottom accumulated - that's all I need to see & went to margin for a helluva DCB trade and a nice LT hold / re-entry.
We've seen BHI, HAL, MVK, PDE all blow up & have Institutional Capitulation blow ups; all anyone had to do was confirm that the stocks were washed out by watching OBV & Money Flows and catch the ride… PGO is a cash flow machine -again; as I mentioned and as few realize; it produces cfps on levels only met by SII, BJS & and out "cash flows" SLB HAL BHI.
PGO also along with seismic brother VTS; has the ability to accelerate earnings faster than any other OS subsector group - when seismic moves; it runs like a scalded dog… remember; VTS was perhaps THE mo-mo play of the second half/late cycle 1998 OSX rally along with FGH.
PGO has those FPSO's and is THE play on Bush/Cheney's push for FPSO's in the GOM as part of their energy plan.
Those "call options" that old fart Kollmnh & dimwhale minimized as a mere $48,000 bet personify these moron's petty little jealousy fits… I guess they couldn't see pass their Pinocchio-noses to those May $10's & $12.5's that equal a $400,000 + bet on "call options" - of which what ? - 90% expire worthless ? … I'd not minimize a $400K bet on "calls" on a stock like PGO… as I said; …. There is more to this story than is on the public plate… (remember GOM FPSO's as part of Bush/Cheney's Energy Plan)…and PGO has just done what ? - raised cash by spinning off assets to HAL & selling their Spinnaker Exploration stake... think outside the box just a wee bit…and use a bit of basic technical analysis on this one… perfect rounded bottom with positive OBV, Money Flow & stoch's, MACD all validate it as well.
The move is just beginning - a chip shot DCB back to $12-$14 and that's a margined double for 30% of my portfolio…and "IF" we are indeed within a multi-year expansion cycle - PGO is a $30 stock - absolutely will be a $30 stock if the cycle continues .
There's another great laggard DCB "story" play here that no one is mentioning and I'm accumulating… I'm not done yet; hesitate to go deeper in margin; but then again; I am hedged in Gold/Silver… PS; that intra-cycle rotation off the initial XAU move thru 50; to the silver plays - paid off; SIL now nearly 50% off its bottom & PAAS 30% from where I suggested rotation to the silver plays… BWTFDIK ? just like calling the NG top to "the day" - the Gold/Silver move has been another horrible call; even though as that chart I posted yesterday confirmed; since JQP's infamous "max margin" move on Oct 25th where he chastised my Gold & Cash move; the XAU has outperformed the Dow, the S&P, the NAZ, the XOI, the XNG and the OSX…. Just another bad call… what can I say - as there have only been about 12 50%+ moves off the bottom in the sector as well…
Roebear - remember KRY ? - I; just got triggered out of "some" of my KRY on its pop from the bottom to $1 - a nice 40% bouncer; but I'm still holding a piece LT… TVX, GLG, KRY, KGC still buy on any & all weakness plays here….and SIL & PAAS even though they bounced along with FCX; are still eons from their tops…
PGO BABY ~ …. Lever the "DCB" du Jour here and let's dedicate this trade to the Kollmnh's & Dimwhales of the world…as without them as "food" we couldn't be Pigs…
Ciao ~ |
