Tuesday, August 23, 2011

Some RPC Inc

We just had a small tremor here in the northeast. I thought my coworker was shaking the cube and was getting annoyed when I finally realized it was an earthquake. I like this reaction from traders on the NYSE: “Shortly after the quake struck, traders in the New York Stock Exchange also felt the quake and shouted to each other, "Keep trading!" CNN's business correspondent Alison Kosik reported from the floor at 2:20 p.m. E.T.” Money does not stop…

I was trading in and out of RPC Inc (Ticker: RES) these past few days. I’m going to hang on my position that I bought at $22.12. This company specializes in “fracking”, which is a process used to extract natural gas from shale formation. This is a cyclical company, but currently has a nice back log. The company has also exploring the possibility of selling itself and has hired Goldman Sachs to explore this option. I like this risk reward opportunity.


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