May 16, 2008

Market Comments Submitted by Nick at Ambitions as a Stock Trader

By admin

Submitted by My Ambitions as a Trader and Investor

On the Move: PDO

Stocks such as PDO are a rare breed. This is especially true when you consider the fact that PDO is an oil/petroleum stock. Of course, there are several factors at play that have helped PDO become the strong stock that it is today. With a small number of outstanding shares and record high oil prices, this was a no brainer. In addition, PDO boasts strong fundamentals as well. Earnings have been quite impressive as of late, adding more fuel to the fire that this stock has been stoking. Although I have sold 75% of my original position yesterday (around 13 and change), PDO continues to impress me. Although I still like the stock, I will not add more to my position until the stock comes down a bit. I sold the majority of my stake for a near 80% return in less than a month. My remaining stake is already up 130%. If you aren’t long PDO, this is not the time to jump on. The stock is a bit over extended and should come down by either the end of the day or next week.

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