SEPTEMBER 05, 2008 - The Fed will not raise rates after today's employment report that showed unemployment rising to 6.1% - there will be a call for them to lower rates now. Would continue buying recommended banks and brokers. The July 15 lows of banking and consumer stocks will hold - commodity stocks will go lower but think natural gas has bottomed. It may be getting time to buy the semis (SOX) that hit a five year low today. Oil has not bottomed yet.
a buy as oil prices go higher - reports next week - buy half before the Fed cut & buy the other half if the Fed doesn't deliver
64.96
+222.38%
10/30/07
had good qtr - reiterate buy
60.10
+198.26%
01/09/08
the big oil cos must use hi-tech drilling to increase production - co's equipment ("trees") allows for sub-sea oil well drilling - has 40% of the market & is printing money - just got a major contract in the Pazflor Project (large Angola oil field) worth $2.6B to $4.4B - expect co to win additional large contracts over the next 15 mos - has a giant buyback (another 11% of the stock) - trades at only 22x earnings vs 24% growth - expect co to spin off its legacy food machinery business by mid-year - this is the best way to play the next round of deepwater oil contracts
61.26
+204.02%
03/18/08
not too late to buy
59.89
+197.22%
06/16/08
a buy on any weakness - is a core growth position
76.38
+279.06%
06/25/08
co's subsea "tree" technolgy helps prevent oil spills from underwater drilling - is the market leader with 42% share - is increasing capacity to meet demand - has a $1.8B backlog of tree work vs an overall backlog of $5B - its business is growing at a 29% annual rate - co sees tree growth going to 62% - expect it to buyback 10% of its ahares - is trading at only 20.7x earnings vs 27% long term growth - recent weakness is a buying oppty - would buy it now while it's on sale
77.21
+283.18%
06/27/08
if the oil inventory numbers released this coming Wednesday at 10:30am show a build we want to take advantage of any oil price weakness to buy FTI because we know the momentum in the offshore drillers is there
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