3/7/12

This morning I woke up at 3:58am after getting to bed sometime past 2:30am. I have been watching Patterson UTI (PTEN) for a couple of days since markets had just gone through a correction due to more fears about a Greek default as well as markets being over-bought. The premarket price for a share of PTEN was $18.24. I tried to get in on this low price by placing a buy limit-order of $18.40 but it turns out I understand very little about extended-hours stock trading. Once the market opened I watched the price slowly move between $18.85 and $18.75. Because PTEN rises above $21 so often I felt this price was still very attractive. I bought in at $18.78 hoping it will rise $1.90 within 1-4 weeks. This would be a 10% rise in price making me a a very tidy profit. If the market corrects further I plan on buying more assuming PTEN's ratings and outlook remain positive. Currently this is my favorite pick. Previously it was AMAT and GLW but they seem to be stuck at $12 and $13 respectively so I'm moving on. I'm still very interested in KORS, TIF, and COH since they're ratings are so high. I'd like to buy in if investors begin to take some profits which may have begun today with KORS. I plan on watching US market futures and waking up early to protect my investment just in case the possibility of a Greek default begins to move markets again. But for now I remain optimistic about my position in the short term.

As stated I currently hold shares of PTEN