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Parker Drilling Co. Message Board

  • ezgreen ezgreen May 7, 1999 10:17 AM Flag

    NYMEX (Repost)

    Finance Home - Yahoo!



    Top>Business and Finance>Stocks>Energy>Oil and
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    Operations>GOU (Gulf Canada Resources Ltd)


    NYMEX - COB 5-06-99
    by: ezgreen

    3498 of 3499
    Daily: Closed down 0.66 from prior
    close and is now below the 10 day MA. I personally will
    not become concerned if and until it violates the 20
    day MA. During this uptrend the lows have tested the
    20 day MA however the prices have bounced off and
    continued to the upside. Purely a wild guess on my part but
    the present
    pattern looks like the first half of
    a "Head & Shoulders" formation. Although
    stochastics is still in Overbought Territory we have had a
    crossover to the downside. MACD has yet to flash the start
    of "Convergence" but I would expect one on 5-7-99 if
    crude closes to the downside. I don't know how this
    will affect
    GOU. Time will tell. I have tightened
    my trailing profit stop to 3 3/4 to take advantage
    of a breakdown if it occurs (trade position). Good
    luck to all.


    Posted: 05/07/99, 9:24AM EDT
    as a reply to: Msg 1 by YahooFinance

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I never posted this message that got you worked
      up.

      Notice KhalidRKahn as the Yahoo! id that wrote that
      stupid message.

      I have been takin it easy lately
      and have not posted much at all in the past three
      months.

      Take care.

      KRK

    • a year out of date, i kept thinking there was something wrong with it

    • http://www.nando.net/newsroom/ntn/biz/042598/biz16_5074_body.html

      PKD always lags, even before the monster debt
      PKD lagged. bard is right that if oil got up to 20
      for any length of time PKD could be in the 20's. it
      sounds crazy, but economic growth is perking
      everywhere.

      as for silver, i think that the guy who runs Apex
      Silver has bought up 100's of old silver mines when no
      one wanted them. and in 5 years his 25% stake in Apex
      will be worth $250 million. i think the famous
      "equilibrium price of silver" will be about $15-20/ ounce. but
      i don't know jack, what i know is that when buffett
      and soros buy silver and some guy buys up a bunch of
      silver mines know one wants and heap leach technology
      can make these mines probitable it looks like a good
      deal. homestake mine was heap-leach mining gold
      profitably if the ore had .015 ounces of gold per ton. i
      figured it out and that's like $5 worth of gold per ton.
      Larry Tisch used to do that, buy out of favor things,
      buying oil rigs and supertankers for the scrap value in
      the late 80's, then spinning them off as Diamond
      Offshore and some tanker co. everything else is so
      overvalued silver seems like a nice contrarian play. silver
      use grows at twice the rate of oil use and no arabs
      control the market, distorting supply/demand

    • Agree wholeheartedly LC on your last post. I too
      spread my "eggs"
      a little wider this last time
      around. My last PKD buy was at 35/8, and I ain't real
      impressed with the performance since. Also, there is no
      doubt in my mind as to the laggard performance
      of
      PKD, but, I have gotten virtually the same performance
      from NE
      (on a percentage basis) and RIG. My reasons
      for sticking with PKD
      are also personal, and I
      wouldn't expect anyone to go along with
      my reasoning,
      much less "buy stock" in it. Doglegs, it is
      performing, in my estimation, much as it always has. I think
      LC
      has expressed it best with the idea that once this
      sector really
      changes and PKD gets some iron back to
      work, you will see a tremendous positive change on the
      company's part. That's liable to be a while though. T34 B

    • CHECK IT OUT GUN LOCKS FED LAW WEDNESDAY

    • FWIW, I don't think you are sounding negative,
      just realistic. It really sux that PKD is a laggard.
      How long until they shed that handle, I don't know.
      At this point, I would have to say not until they
      post some hard, positive, earnings. That's not going
      to happen anytime real soon, either. No question
      about that in my mind. Sure we bounced off the bottom
      but topped out very quickly while the leaders, DO,
      RIG, HAL, SLB, NBR went on to set some pretty high
      benchmarks over the past couple of months. Frankly, a couple
      of these is exactly where I put some recently
      invested bucks rather than adding appreciably to PKD.


      FWIW, this news, just posted could prove significant
      today for not only RIG but the whole
      segment.

      http://biz.yahoo.com/rf/990520/lt.html

      L.C.

    • Nothing has really changed with PKD since it
      tanked with the sector except, as I see it, a few little
      side issues such as being dropped from the S&P400 fund
      (Not as minor an issue as some suggest, imo. Why? A
      constant flow of new funds into the market as expected by
      many over the next decade will no longer be
      automatically invested in PKD by those who have invested in the
      energy mutuals, i.e. a floor demand for this stock has
      been removed). Assuming the sector does continue it's
      recovery along with the price of crude and government
      doesn't do its usual meddling, positive or negative, I
      expect PKD to recover if, of course, it doesn't run into
      cash flow problems due to an excessively long "bust"
      period.

      Assuming you are positive on the sector (another whole set
      of considerations for you, personally, to evaluate),
      PKD should, imo, snap back faster and further than it
      has in the past after a bust due to it's refocus
      toward offshore and it now being a much, much more
      highly leveraged company---a potential blessing or curse
      depending upon future events.

      Also,
      risejubkibbyman, so long as your focus is medium to long term (one
      to three and three plus years, respectivly), now is
      as good an entry point as you are likely to get
      assuming normal market flucuation, in my opinion. Suggest
      you do your own due diligence (DD), however and
      remember, the advice you receive on the net may not only be
      worth exactly what you pay for it, imo, it is
      conceivably much worse...disasterous to your financial well
      being. Bet you already knew that, right?
      <ggg>

      As for what would keep one's interest in PKD higher
      than others in this sector at this moment in time, my
      thoughts on this subject are personal in nature and I
      doubt they would be relevant to others. They have to do
      with my personal confidence in PKD management's
      experience, their knowledge of the sector's needs, their long
      term personal relationships with their clients, and,
      most importantly, their personal integrity. It saddens
      me to see men of PKD management's character and
      meddle attacked by nameless, ignorant, cowardly
      cyberthugs who mug them and others from the safety of their
      anonymity as they use the medium to pursue their own
      agenda. This is why men like T34B, Steve, AZI, and others
      to numerous to list, imo, post much less here than
      in the past. None of us do. We've tried almost every
      approach imaginable and ignoring there existance is about
      all one can do. Oh well...

      Returning to the
      subject, I believe Parker will survive and the drilling
      sub-sector of this huge sector, energy, will bounce back
      strongly, sooner than expected and that Parker will either
      regain it's former status as a world class driller or
      eventually, perhaps upon the death of Bob Parker, Sr., be
      absorbed by a larger company. Contrary to others on this
      thread and others within the industry, I do believe the
      "goodwill" PKD has, particularly internationally and with
      our domestic majors, is a very, very valuable
      commodity. Iffy? Yes, but time will tell.

      While I'm
      not encouraging you to invest in PKD, personally and
      in particular, I would suggest that you consider
      investing vis a vis speculating somewhere in this sector
      and soon. It's not going to stay down for long...the
      energy demands of the world are dependent upon it. Also,
      just ask yourself what real difference an eighth or
      two or three, etc., will mean in a few years. I
      hasten to add that I wouldn't consider buying this or
      any driller on margin or engage in a timing gamble by
      buying options except with gambling funds.

      L.C.

    • but I am getting tired of PKD running at 65-70%
      of what the other drillers are doing.All this
      negative news?(And I know this post aint helping)but
      according to my ruff figuring PKD should be at 4 or better
      right now, if it is gonna keep up with the other
      drillers. Or is this the "norm" for Parker?
      I got in a
      few months ago,bought two batchs,average cost was
      3.05,thought it was a good deal at the time,but am really
      starting to have my doubts.
      The land rigs I've been on
      impressed me,they have good trust worthy personnel,can
      handle pretty much anything old mother nature can throw
      at them,BUT it looks to me PKD might have to try
      something new.
      I hate to sound negative about something
      I have stock in but if this is all we get out of
      (probably) the first spike in the oil rebound where are we
      going to wind up when it really does stabalize? At 4.50
      to 5.00?
      I'm not that familiar with PKD's
      offshore operations but as for their land based operations
      (maybe) they should go visit their Nabors!
      I'm not
      meaning to down play the PKD stock but this is the way
      I'm starting to feel!

      doglegs

    • Was reading the trusty news reports and see that
      good ol' PKD was being dropped from an S&P400 fund. I
      take it you read this as a negative move. What, if
      anything beyond the economic theory you described on your
      post, would keep a person positive on this
      stock.

      P.S. Own a little...why not buy more at these prices?

    • 15 in three years!!! i hope so, if thats all it could do i would dump it. where do you think silver will be then oh holy one??

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PKD
2.54-0.07(-2.68%)Jul 31 4:01 PMEDT