Bookkeeping: Adding to Bolt Technology (BTJ)

Adding another 200 shares of Bolt Technology (BTJ) as it falls to $40 this morning - what a ride in this name. This takes the position up to 1.5% of the fund.

On a related note (energy) driller Noble Corp (NE) hit a home run on its earnings, making me feel even more confidant of my recent foray into expanding the fund's position in the deep sea oil drillers. Noble is an offshore driller so it actually has more pricing risk than the deep sea oil drillers, so if they are doing well, it can only mean good things for those with more pricing power.

Profit in the third quarter was $318.3 million, or $1.18 per diluted share, with $207.2 million, or 76 cents per diluted share in the same period a year earlier.

"Improved margins across the Noble fleet, driven by higher dayrates on several recently contracted rigs, provided momentum for a strong third quarter," Williams Sears, the company's interim CEO, said in a statement.

In the 2007 third quarter, Noble's average daily lease rate for its rig fleet rose to $147,501, up from $102,824 in the same quarter a year earlier.

'Nuff said.

Long Bolt Technology in fund; and in personal account