Jim,
"Am I missing something?"
No and yes. Anyone perceptive, naive, lazy, or rock-stupid enough
to still be holding oil field service equities since before Oct. 28th
of last year can tell you that this sector passed under-valued and
unloved a LONG time ago! That's me. I happen to think that DRQ, with it's
very strong exposure to deep-water drilling and production, is a
company that will eventually reward me for the rather foolish act
of wanting, just once, to participate in an IPO on opening day.
I did just that. 'They' said wait. I didn't. At today's prices,
(whatever they are, I've quit lookin' for awhile) I believe the
company's a steal.
If your trading quickly, I'd learn what I could about what makes
the oil biz tick before entering. (Very fascinating stuff, if you
have a penchant for 'Amazing things we can do with nut and bolts.')
If your investing horizon is longer term, I can only say that I
wish I had the wherewithal to be buying these companies right now,
but it could be SOME time before their sterling fundamentals bear
fruit.
I'm long DRQ, MIND, and RIG, and would hi-jack a flotilla of wealthy
grandmothers to be able to pick up VTS and VRC in this sector.
(Just kidding, gramma's are too cool to waylay, [and most could
probably outmanuever me anyway!] and prob'ly had the sense to
bail on the ofs sector along about last November.)
For more (Lots more!) on the sector, try Strictly Drilling in the
search window at the bottom of this page.
Sorry if I ran on, but I've been reading "111" in the no. of messages
box for a long time time, and was surprised to find it reading "112."
Good Luck. [Watch the price of crude oil, up is the direction that
will help these stocks to return to what I'd call sane valuation.]
Lee |
