PKD also lagged the oil drillers 2 years ago when the driller prices took off , then several months later, or more, PKD went from 5 to 17 per share is a year's time. Appears to the the same situation now. I don't think PKD has a reputation as an offshore play, in spite of their acquisitions last year or so, of several companies givng it more international exposure.
Come the resugence in demand and the rigs wil be in demand again, till then, we cut bait. IMHO.
fwiw, I believe you have your finger squarely on the pulse of PKD.
As PKD has been a laggard since losing it's leadership position in the mid 1970's, it is, imo, virtually impossible to determine WHEN it will play catch up to the current leaders. Therefore, if one who wants to invest in PKD they MUST have at least a partial position to be assured of not missing the initial third or so of the surge, assuming it comes for the sector. Perhaps the only difference this time around will be that PKD may go further faster because of its new focus off-shore. Wall Street's perception will change if the numbers are there but now the Street is domiciled in Missouri...the Show Me State.
I dont know if I would be dissapointed in the action today. Figuring in percentage terms PKD did not particularly underperform anyone today. Your just looking at the close. Yesterday the bulk of the volume traded at 3 1/4 while today most of the accumulation occured at 3 3/8. Thats a decent % change and looks like the formation of a nice base here (certainly a lot better than the last base at 2 and change). Looks like we are in ok shape for the next leg up :o)