Go DEEP!

Just bought a small position in Superior Offshore International INC (DEEP) last Friday @ $18.25 per share. DEEP is still very small (Mkt Cap $475 mil) and only recently IPO'd. I really do NOT like to invest in companies that have IPO'd in less than 1 year since volatility can be rampant in these stages (takes a few earning reports to smooth things out). But in this case I've been keeping a close eye on this stock since it was featured in IBD's New America (great source for new/underexposed companies).

DEEP specializes in subsea construction and diving services for off-shore platforms and drilling operations (oil and gas exploration) in the Gulf of Mexico. This sector is already quite hot, and with land-based oil reserves dwindling you can only expect it to get hotter. This will require a lot of construction and maintenance work and this is where DEEP comes into play. Oh and hurricanes in the region only helps DEEP since repair work is their forte as well.

Long-term growth and global expansion prospects only make this company that much more appealing for me (since I am a long-term investor), let's wait and see if this one pays off.