Precision Drilling Corporation Message Board

no, no, no...

I am not short what-so-ever! I have some put positions on Russell 2000 index or some other tech issues currently which are much more likely to make money for me...

But the oil issues are still too hot to be short yet, I am simply waiting the ratio of the inventories to the open contracts to get a bit wider (supply and demand inbalance), then to be short on the drillers.

This will happen because of two reasons, first the slowing down of the global economy, especially in Asia and China, then the excess supply from OPEC. The timing is hard, but I have a feeling that it will happen before the end of this year, in other words, even though the momentum is keeping the price elevated, I think it is not pushing it any higher, but not enough reason to go short yet.

I have all the patience of the world since this is not the only stock on my radar, but my time will come with this stock to trade in both directions.

Currently I find (and I found a couple months ago) the current levels too high, yet too risky to go short as well. I am waiting for PDS to run out of steam and cool down a bit, then it will collapse probably onto its own weight anyway...

This stock will sucker in a lot of traders on its way down with its current resilience, but I won't be one of them...

Regards,
-kisa

are short you may have picked the wrong horse. Still at this time of year PDS should be going towards your target. Some years are different however.

EOM: SM

You set the reversal scale to 3, you get my target price $34!!! :)

http://stockcharts.com/def/servlet/SC.pnf?chart=PDS,PWTJWANRBR[PA!B20][D][F1!3!!
!2!20]&pref=G

sorry for having omited the URL.

http://stockcharts.com/def/servlet/SC.pnf?chart=PDS,PWTJWANRBR[PA!B20][D][F1!2!!
!2!20]&pref=G

Have a nice day trading.

Low pole reversal on June 14th.

Here is the point and figure chart.

Currently I have two holdings in the gas domestic area APC and DVN.

See you guys in te spring.

Luis

If you can't lick them....buy them...(smiles).

to International drilling that is.

EOM: SM

Compared with ALL other land and sea drillers, PDS is by far the cheapest both in absolute PE and its PE compared with its
growth rate(Revenues and Earnings). I listened to the conference call last month and the CEO said they could raise day rates
another 20% to merely equal what US land drillers currently charge. Perhaps this difference is partly due to exchange rates. Either
way, it looks like the lowest risk of any land driller and perhaps sea drillers as well. Lets just hope crude oil can hold above
$16.