Monday, November 30, 2009
Pride Int'l (PDE) & Higher Oil
Pride International (PDE) enters the Itz Pix Portfolio @ $31.
A look at a few charts this morning, GLD, SLV & USO. I've suggested that as gold spikes higher, that one should expect a pullback, Silver has yet to set a new high, but ytd has outperformed gold. For oil, it echoes the metals by 3 to 4 months and I believe and have posted several times, that it is primed to take off. Hence Transocean (RIG) & Pride Int'l (PDE). Also I posted a CNBC video clip from this morning in which James Richards, of Omnis Group; mentioned how oil may also spike on the possibility of an attack by Israel on Iran by March 2010.
*click charts to expand images