National Oilwell Varco, Inc (NOV)

[ogbull]

Back in NOV at $27.40--- Those that dumped out are likely kicking themselves in the arse about now. Obviously, the 10% hit was not at all deserved considering the negative market conditions last quarter. I think the bad quarter should have been expected. I also think NOV released all their bad news to get the worse behind them. I see a quick pop back to $31 at least and maybe a move back to $35 within 2 weeks if WTI climbs about $36 per barrel.

I also think NOV is trying hard to make some great acquisitions. Buying distressed companies is Clay Williams's call to fame. He built NOV on smart acquisitions during downturns. Clay is a a real pro in the oil patch!