Last night I said.....
It looks like there is an excellent chance my limit orders on CA (68.25) and NVLS (36) will execute tomorrow. I may not catch the low, but why be a pig..... Too bad I'll be out of pocket, it could be ye another interesting day.
I see I was dead on target. Both orders filled, with NVLS closing at 38.25 and CA closing at 68.25. Now for the rest of em.....
By the way, I mentioned a couple of drillers last night also. The other driller I'm holding is PKD (@ $5.75). I wasn't sure if I really wanted to add to my position, since I could not understand what was drive the price down, except possibly the fear of dilution from a 10 million share offering. However, management seems to have a feeling about the current valuation, with this news out today.....
TULSA, Okla., Nov. 13 /PRNewswire/ -- Parker Drilling Company today announced it has elected to withdraw its offering of 10 million shares of common stock.
"We felt strongly that at the current price, the market was undervaluing the strength and prospects of the company," said Robert L. Parker Jr., president and chief executive officer. "The company believes the withdrawal of the offering will not impact our ability to complete our planned capital expenditure program," he added.
A worldwide oil and gas drilling contractor, Parker Drilling specializes in land and transition zone offshore drilling and the rental of specialized oil tools.
Hummmmm. |
