Happy Short
I have made so much money shorting PD since 1997. Here is how; 1- It is cyclical. It can easily go back and test $5 if oil does not go back to 100+. Already below 50 and getting close to break 200 day moving average. 2- The company has heavy debt burden. 3- Embarked on large spending a month ago when oil was above $100(at the top) 4- So many analyst and so called smart people have buy rating on it and yet the stock is failing to go higher. 5-The short position is at all time low. For all the reader, I shorted 3000 at 13:52 and another 3000 at $13:00. I am not worry about the daily up and down, but am confident that with major spending of the company at the top on the cycle on super series rigs, while it is already heavily in debt, we will see PD back to $5 in not the distant future. By the way, the company not saying anything about their potential losses in middle east (Iraq).