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Parker Drilling Co. Message Board

  • ezgreen ezgreen Apr 16, 1999 6:32 PM Flag

    LC & T34 - Crude Oil & PKD

    4-16-99 (COB): NYMEX(light crude) at my last
    input was at 17.3. This is higher that several bars
    back. Note that PKD moved in sympathy with crude oil. I
    don't know whether they are in lock step but for now it
    looks like that is what is going on.
    For this week
    PKD closed above its 3 moving averages although the
    averages are out of alignment. Stochastics is trending up
    at a nice sharp angle and MACD although in a nice up
    trend shows signs of increasing momentum(angle of
    ascent starting to increase).

    My OIL Services &
    Equip Index for the week opened at 154 and closed at
    158. Prices for this index are riding just above the
    10 week MA. If this trend continues the 20 should
    cross above the 30 in the next week or two.


    Thing are looking more positive as time goes by. I do
    not believe that PKD will retrace below the 3.0 level
    in the near future. However things can change
    overnight.

    One note of interest: Volume Monthly Chart; 5 bar
    average = 15.8
    Volume for the month of March = 52.6
    MIl. That is 3.32 times greater that my 5 bar avg.
    Also PKD opened at 2.56 and closed at 3.56 for the
    month of March. PKD closed at 15.xx in Sept97. If we
    get 2/3's of the way there you will not hear me
    complain. In my opinion they can say that Fund Manager were
    divesting themselves of non-performing issues, I say Fund
    Managers and Insiders were getting on in anticipation of
    the next "Bull Market" in the Oil Sector. Just my 2
    cents worth.
    Good luck to all believers and non
    believers.
    ezgreen.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • your bringing up all that oil.What about
      transporting it.Bought some TK today good solid company and
      pays 6.7 % dividends. Check it out some big buyers
      last few days.And all their ships are almost new and
      paid for.Good luck and GO GO PKD P/S they just bought
      another shipping compny for chump change.Great growth
      potential.

    • I'm a believer, EZ...also, if one believes PKD is
      the classic laggard ( which I do), then barring a
      major news event, all one has to do is watch the
      movements of SLB, HAL, BHI, NBR, DO, RIG, the leaders as
      far as I'm concerned, and anticipate PKD tracking
      them hours to a day or so after they move in one
      direction or another.. All assuming, of course, that the
      technical indicators remain positive, doing what they do
      best i.e., predicting the very short term
      direction.

      Overly simplistic? Undoubtedly. Valid? It has been since
      this up move began. Hey folks, I'm not suggesting this
      is foolproof...obviously it isn't. But as a tool an
      another piece of the puzzle, I believe it is and that
      it's worth watching. Thanks for your valuable input,
      EZ.

      • 1 Reply to LCBard
      • Having my nightly fight with Yahoo. This is the
        second time I've
        tried to get a post up.

        I
        can't stand it anymore!! I guess, come Monday Morn., I
        will go
        ahead and get a little more PKD. I dread
        it. Common sense tells
        me that the fundamentals
        haven't changed, and this recent rise is
        due to "hot
        air". Nevertheless, for the first time in about 9
        months, I am making money on my driller and oil holdings.
        This
        upswing has not only lasted longer than I guessed, it
        seems to be
        building momentum. So----you guys put on
        your crash helmets. I buy any more, rest assured it
        will shortly make a smoking hole in
        the
        ground.

        I honestly don't care whether we use TA,
        Fundamentals, Tea Leaves
        or Ouija Boards--none of this makes
        any sense. I have fallen back
        on the WAG method,
        and use everybody else's analysis as
        dangling
        carrots to prop up my moves.

        Doglegs, I too have
        increased my consumption of all your vices,
        and even
        spice it with an occasional Black Jack and Branch
        Water.
        Had to give up the chew several years ago. My better
        half allows
        as how nobody will get in her bed that
        has had stuff in their mouth that looks like it came
        out of a Mule's Ass. For the sake
        of Marital Bliss
        and all that rot, you know? T34 B

    • Next resistance at 4.50, then 6.00, should be
      duable.
      Pay no attention to earnings, the internet
      stocks sure do not, why would this be different..?.

      Current earnings of PKD reflect the past, the slow down
      due to the lower commodity prices, and not the
      present positive price of oil.
      Forget about a
      buck-a-gallon for gasoline, that was Disneyland. As technology
      corrects the money flows to other sectors, the Dow large
      caps are close to their historical P/E highs, with
      some exceptions, not much stands top be made there.

      The market breath is finally improving due to
      rotation in to stocks like PKD, the big bucks will be made
      here now, not on the ones of yesterday.

      • 3 Replies to manboking
      • Next resistance at 4.50, then 6.00, should be
        duable.
        Pay no attention to earnings, the internet
        stocks sure do not, why would this be different..?.

        Re-print from message No.6047 of 4/16/99 to
        EzGreen

        "Current earnings of PKD reflect the past, the slow down
        due to the lower commodity prices, and not the
        present positive price of oil. Forget about a
        buck-a-gallon for gasoline, that was Disneyland. As technology
        corrects the money flows to other sectors, the Dow large
        caps are close to their historical P/E highs, with
        some exceptions, not much stands to be made there.

        The market is finally improving due to rotation in to
        stocks like PKD, the big bucks will be made here now,
        not on the ones of yesterday."

      • Next resistance of 4.50 will be taken out this
        comming week as the shorts bail out of PKD, next level
        6.00 is now douable with fridays action continuing.

        Pay no attention to earnings, this market is all
        about momentum, and this company is selling close to
        book value, history shows any time this happens the
        gains are geometric. Earnings are a function of the
        past and the future looks brighter with oil prices
        over 17.00.
        Vector Vest said it well "BUY", the
        "death spiral", and the "buck a gallon gas" belong in
        Wally World (B.S.). GO....PKD....!

      • what kollmnh says is true, what matters to PKD is
        the number of rigs working, not the price of oil. and
        the number of rigs doesn't always follow the oil
        price. see
        URL

        http://www.wtrg.com/oil_graphs/RIGCOUNT.gif

        having said that i think Kollmnh might be missing the
        forest for the trees. if asia is turning around, even if
        a bunch of higher office mexicans say OPEC isn't
        sticking together, the surplus oil will be sopped
        up

        i bought some PKD today, might buy some more
        monday. if the world economy is recovering this is a good
        time to get in. the only downside is PKD bankruptcy
        and/or worldwide recession

        notice Greenspan
        ragging Clinton about free trade. he's giving him cover
        to get China in the WTO. capitalism works and china
        and india have socialist/communist governments and
        1/3, yes 1/3, of the worlds population. and they are
        smart folks, too

    • I forgot to mention that I just got a fresh supply of Tea Leaves. The readings support my last post. Have a good one.

 
PKD
3.98-0.19(-4.56%)Apr 24 4:01 PMEDT