It has been a difficult year to find stocks that have done well in the market. To find a stock that has had staggering returns has been even rarer. I know because I've had a few disasters like Bear Stearns (NYSE: BSC), which will soon be folded up into JP Morgan Chase (NYSE: JPM), and is only one among many financial nightmares.

A while back I reported in Chasing Value: Precision Drilling up 46% since December that one of my picks was having an amazing year. The first quarter is behind us and the dream continues. Precision Drilling Services TR (NYSE: PDS), continues to rise while it is drilling down, increasing from $15.47 when I originally reviewed it to last night's close at $24.75.

This 60% jump is on top of the 10% dividend yield, which by itself is quite satisfactory. From the many people that follow my rants and raves, I sometimes get suggestions or questions that lead me in a certain direction. I have to share credit with a good friend of mine, Joe G., for shining a light on Precision Drilling. He was right that it was worth a look and of course I shared my findings with everyone when I recommended the stock three months ago.

Continue reading Chasing Value: Precision Drilling up 60% - something's working

Chasing Value: Precision Drilling up 60% - something's working originally appeared on BloggingStocks on Tue, 15 Apr 2008 15:05:00 EST. Please see our terms for use of feeds.