Market Swings

[75playa]

A great long term stock pick. Obama has issued a moratorium on offshore drilling so this is a GREAT pick. Oil prices are going to soar because of this. Piramid Oil co. (PDO) is one of the few companies that only drills on land for crude and natural gas.

I don't like to look at fundamentals but they have virtually no dept and nearly 4 1/2 million in cash. First quarter revenues were up 69% and they are a company over a hundred years old.

It is a tad thinly traded on the volume but I bought some for my mutual fund 2 weeks ago for a long term play when it was obvious that we were going to put a hold on offshore drilling.

Crude oil is going to go up because the supply line will dwindle SIGNIFICANTLY with no more holes getting punched in the gulf or near Alaska so it's bound to be a go. It jumped up quite a bit this morning after Obama's speech last night but it closed at $5.28. It was $36.80 2 years ago...: )