Wednesday, September 3, 2008

$15 OIL PLAY on the DIP! ~ ION Geophysical Corporation (Public, NYSE:IO)

IO

IO

...the unbreakable BLUE LINE! 




InputOutput (IO) aka ION Geophysical is our new SPEC $15 oil play!

With our recent sale of HK, ... we need OIL PLAYS with BIG support ;-) 

ION Geophysical last month said it will pay about $343.6 million for privately held ARAM Systems Ltd., which offers cable-based seismic systems used by exploration and production companies to identify underground structures that may contain oil and gas reserves.

"We believe the scope and scale of the combined entity will offer our customers expanded and accelerated access to a broader range of instrumentation options and enable our consolidated land businesses to grow more rapidly and deliver bottom-line results more effectively than either company could on its own," Bob Peebler, ION Geophysical's president and chief executive, said in a statement.

BUY (IO) on the DIP! 

The "post HK" new OIL PLAYS:  

1) CAM ... CAMERON = LOVE (critical point chart) 

2) EP ... *unusual options activity* ~ GidddyUp! 

3) TSO ... the quasi-short oil play

4) DIG ... get lazy, get long! @ $75ish (chart)

5) DO ... Love to Drill part 3, offshore! ... buy under $100. (dip chart) 

p.s.  FUCK HeRB! (HRB) reported #'s  

SHORT BUS: we're still short STI, IBM, ORCL, ENER, JRCC, and some leftover BIGgie. 

p.s.s.  The BOTD "retarded $2 retail" LONG play:  CC up 3.72% to $1.95!!! 

p.s.s.s. Welcome to the BOTD pain cave:  Agrium (AGU) ... broke $75 today ;-( 

4 comments:

BUY ON THE DIP said...

we also bought some PEP calls.

cheaper raw costs, while customer prices stay high.

go team!

Jason said...

Oil plays with big support... what are your thoughts on CHK? There's been some big insider buying. Also, it seems to have remained fairly flat in the last month while natural gas and oil have dropped.

jd said...

I still think there will be a commodity run-up later this year.

Economy is still crap.

jd said...

BOTD, I still have AGU, I'm down 13% , still holding.

I am tempted to dump my UNG and AGU but I have no confidence in the dollar rally so I hold.