Newpark Resources (NR)

Company

"Newpark Resources, Inc. provides services to the oil and gas exploration and production industry, with operations in the United States, Canada, Mexico, Brazil, and the Mediterranean region. The company operates in three segments: Fluids Systems and Engineering; Mats and Integrated Services; and Environmental Services." (company website)

nr(2-1)
NR 4-month chart
nr(2-1)_1yr
NR 1-year chart

Buy

4 May 2010. Bought 500 NR at $7.68.

NR got a big boost with heavy volume from an earnings surprise at the end of April. Although it is stretching the upper Bollinger band, the shift in momentum was decisive and I expect further gains before it pulls back.

  • Percentage price oscillator (PPO) — crossed sharply above signal line
  • Volume — heavy volume following earnings surprise

Based on technical analysis, MarketEdge calls NR a "buy" in a "strong upward trend."

Sell

gain Bottom line
-18%

19 May 2010. Sold 500 NR at $6.32.

How's that Trader Paul thingy workin' out for me? It ain't a workin' — end of story. The turmoil in the markets resulting from the continuing financial and economic crisis is just too much to bear. I'm out of the market.