SII - Smith Intl, Inc (NYSE Stock)

[fz4fun]

Thought I would start a thread on this one. Here is basic info on the company.

Smith International, Inc. (Smith) is a provider of products and services used during the drilling, completion and production phases of oil and natural gas development activities. The Company operates in three operating divisions: M-I SWACO, Smith Oilfield and Distribution. In addition to the W-H operations, the Company provides a range of technologically-advanced products and engineering services, including drilling and completion fluid systems, solids-control and separation equipment, waste-management services, oilfield production chemicals, three-cone and diamond drill bits, borehole enlargement services, tubulars, packers, liner hangers, fishing services and casing exit and multilateral systems. The Company also offers supply-chain management solutions through North American branch network providing pipe, valves and fittings as well as mill, safety and other maintenance products. On August 25, 2008, the Company completed the acquisition of W-H Energy Services, Inc. (W-H).


They have been testing resistance at the #30 level and recent option activity shows that the option traders think this is ready for a nice move thru resistance in the near term. Charts look like it is on a positive upswing and I am hoping for about a 10% move over the next month or so.

I have initiated a small starting position today @29.96 and will add if it dips lower and see what it brings.

Comments and insight welcome

[thegreatgate]

This is a weekly chart. They still work for TA but it's just that each candle is a whole week (so it takes a long time to get where it is supposed to go). Looks to me like there is some resistance from $32-$34, after that clear to $45...

[fz4fun]

OK-time to freshen up this thread a little. After languishing in the 26-29 range, I got my avg price to 29.44 after my final buy on 9/24 and have been waiting on this one to move again. It tested and broke thru $30 Thursday and slipped a little today but held with a close of $30.28. If we can hold support here and build on it as a base, this might make a nice move over next week or two. The MACD has crossed positive and the candlesticks are testing the upper bollinger band the last few days. Let's see if upside momentum can hold and have a little break-out to the upside next week.