29 October 2009; market closed (The previous issue was broadcast on 10/22/09)
Preemptive Profit-Positioning:
Halliburton (HAL NYSE): $30.31 X $30.33
On 2 January 2009, I announced a preemptive buy-signal on oil-services giant Halliburton (HAL) at the $19.15 level. HAL shares closed today at $30.33 -- representing an average standing gain of approximately 58%.
On 2 January 2009, I announced a preemptive buy-signal on oil-services giant Halliburton (HAL) at the $19.15 level. HAL shares closed today at $30.33 -- representing an average standing gain of approximately 58%.
In our 2009 second quarter recap, I stated, “Keep in mind that Halliburton surpassed $55 a share back in July 2008 and is currently trading at a 65% discount from that interim peak at the $19 range. While the global economic downturn will no doubt take a bite out of the earnings picture for oil services companies throughout 2009, I see Halliburton as well positioned to deliver shareholder value going forward due to its differentiated services, blue chip customer base, and projected growth in the international energy markets. I expect Halliburton to trade above $30 per share next year.”
Our initial $30 per share price-target on Halliburton has now become reality even faster than I projected with the company’s strong push from $23 to currently above $30 in just two months. You may want to utilize this opportunity to take initial partial-gains off the table. Then, with profits protected, you can hold onto the remainder of your position for the longer-term.
I fully expect HAL to trade substantially higher next year, and thus, Halliburton is becoming a solid longer-term portfolio holding. In just the last two weeks, two major institutions have initiated coverage on Halliburton shares. On 15 October, BMO Capital Markets came out with a rating of “Outperform” on HAL shares – and today Wells Fargo initiated coverage on HAL with the same “Outperform” rating.
My job is to put you in the prime-profit position on undervalued stock-situations before Wall Street’s giant financial institutions jump onboard and drive the share price higher. Our timely buy-instruction on Halliburton (HAL) back in January of this year is beginning to pay off handsomely for those who followed my lead.
Protect partial HAL profits; hold remaining positions. There is no protective sell-stop in place on this trade.
www.winbeforeyoubuy.com
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