Trade Of The Week: Newpark Resources Did It Again

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Trade Of The Week: Newpark Resources Did It Again by Michael Kudrna | This entry was posted on Tuesday, November 8th, 2011 and filed under Stock Market Comments Off

Yet again, Newpark Resources (NR) beat earnings and the stock is moving towards 52-week highs. We tried this trade back in August after the last earnings beat. In retrospect, the timing was not right as that week ended up being the beginning of the summer sell-off that put us in bear market territory. NR bottomed alongside the markets in October and has been on a relentless rally ever since. Now, we are just under the 52-week high of $10.09 with significantly more accumulation than previous attempts to break it, giving increased odds of a breakout to profit into.

…SeekingAlpha has purchased the rights to this article. View it for free on SeekingAlpha.com

Mike

At the time of publication, Kudrna was long NR, but positions may change at any time.

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Michael Kudrna

(Monday, May 20. 2013 11:10 AM)

Keeping tight position in DEJ until we get confirmation of no short-term dilution from management. As Zacks noted, cash ratio is slightly under what they need to keep financing.

[reply]

Michael Kudrna

(Friday, May 17. 2013 12:56 PM)

Added back to GST and looking for the chart to grind higher. Easy money seems to be made, so keep a close eye on your positions.

[reply]

Michael Kudrna

(Monday, Mar 11. 2013 3:41 PM)

Initial glance at GST earnings is bullish. Lawsuit overhang will keep a lid on how high stock can move though. Long term spec still

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