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GMRK None

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GulfMark Offshore - GMRK - close: 28.65 chg: -0.12 stop: 26.49

Company Description:
GulfMark Offshore, Inc. provides marine transportation services to the energy industry through a fleet of fifty-four (54) offshore support vessels, primarily in the North Sea, offshore Southeast Asia, and the Americas. (source: company press release or website)

Why We Like It:
GMRK is another way to play the strength in the oil sector. They focus on oil well services with their offshore support vessels. We noted GMRK on Tuesday when the stock broke out over resistance at the $28.00 level to hit new eight-year highs. Normally we don't like to play a stock that has such low average volume but we like the bullish breakout and the bullish P&F chart that points to a $44 target. We're going to suggest longs with the stock above $28.00 and target a move to the $31.50-32.00 range although we will plan to exit before its August 1st earnings report.

Picked on July 07 at $28.65
Change since picked: + 0.00
Earnings Date 08/01/05 (unconfirmed)
Average Daily Volume: 92 thousand
 

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