It’s foolish to get too excited about short term success unless you are a rapid fire trader. However, the first six weeks of 2008 have been dismal, so any success is a sigh of relief. I enjoy writing for BloggingStocks, in part considering of the dialogue it allows, making it a good sounding board for things I am considering in my investment world.

‘Mr. Noital’ is one who keeps me sharp and he recently reminded me about Precision Drilling Services TR (NYSE: PDS), a stock I recommended two months ago, so he must like it too and perhaps bought a few shares.

In December, Canada’s largest drilling contractor with a fleet of 240 service rigs was $15.47 per share, but final Friday it closed at $19.12, for a nice bounce of 24%. that when the market is down

by 8% and nearly nothing is looking very promising. When I first called PDS to readers’ attention, it had a price to earnings ratio (P/E) approach 5 and a dividend yield by 10%. The stock’s appreciation has raised the P/E to 6.26 and the yield declined to 7.9% — still very generous.

I have no crystal ball so predictions are tough to come by, but a closer look at PDS is worth while and you might like what you see. Of course comments are welcome.

Sheldon Liber is the CEO of a small private investment company and the design and research principal for an architecture & planning firm. Disclosure: I do own shares of PDS.

Original post by Sheldon Liber

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