A Bullish Hawk? err, Hawkishly Bullish? ...umm, HAWK = BULL = GOOD?
What I am trying to stay? Ahh yes, I am a bull on HAWK. TMFDeej wrote this excellent post back in June: http://caps.fool.com/Blogs/now-this-is-cheap-hawks/414143. It is a great post and the upshot is that Seahawk Drilling is selling for less than scrap. There is more to the story, and read TMFDeej's post for the details. I went long it in Caps on July 26 at $10.02 just on a hunch (round number of $10 and was getting oversold).
Yesterday it was trading down around $7.00, and today I bought a small (very speculative) position in real life. The chart is showing a very nice bottoming stance (postive divergence despite being oversold, very nice) plus we likely got a completed daily swing low yesterday (assuming it closes positive which looks quite likely).
I have no idea if this is the "bottom" for HAWK, but I think the risk/reward here is ridiculously compelling for going long.
And that's no Bull HAWK-y .... (yuk, yuk) :)
DISCLOSURE: I am long HAWK