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Nov

9

Nibbling on GLBL

November 9, 2007 | Leave a Comment

This afternoon I bought a small holding in GLBL at $25.65. This is another oil service play, and I like the balance sheet ($500 million in cash), cheap valuation, and fact that it is retaking its 50 day moving average. This is a relatively small position in the overall portfolio, but I think it is a solid value play in the oil service sector and there aren’t too many of those left these days.