Thursday, May 1, 2008

DRILLING for DOUBLES! ~ Pride International, Inc. (Public, NYSE:PDE)

PRIDE reports DOUBLE in first quarter PROFIT!
We asked for a DIP ... after today's sexy earnings report, (PDE) dropped 5%????!

-0.95 (-2.24%)

BUY ON THE DIP is proud to own PRIDE!
.... (next buy around $36) ... proper drilling takes patience, right ;-)

S & P says "We think PDE has several near-term catalysts, including exposure to an improving U.S. Gulf jackup market, pending arrivals of new floater rigs by 2011, a greatly improved balance sheet, and its attractiveness, in our view, as a takeover candidate."

p.s. LEHm UPDATE: ... LEH up 7% or something? .... hatred. And as much as we hate financials, they keep going higher ... why fight the tape? or atleast get some protection. The only "financial sector" stocks we like are exchanges. So this morning we added CME & NMX. (CME is down 30% YTD and the deal is on for CME to aquire NMX for about $99.37/share ) ... update complete. FUCK LEH.

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