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PXP - New short: PXP

05/06/2010 10:19 AM by Dave Pinsen

Shorted this today at $27.28.

1) Z"-score in the distress zone.

2) Just announced earnings today and missed estimates: http://www.reuters.com...

3) Had some slim hope, apparently, of a future offshore project in CA. That's off the table after the Gulf spill, and the Governator renouncing his advocacy of offshore drilling.

4) Technically weak, below 50 and 200 DMAs: http://finance.yahoo.c...=

Rating:
4

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  • 06/02/2010 02:08 PM by Dave Pinsen

    Stopped out of this today at $20.82 for a gain of 23.7%.

    Rating:
    4
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