in the oil services sector

http://www.hallinmarine.com/

showing strong growth, forward p/e around 10, they look very under-valued, imo.

See chart below which has just seen a good price breakout, a golden cross not far off now. HMS have a forward P/E of only 3 and are still under the radar, but not for long imo.

Since I posted the above chart HMS have now hit the golden cross, and still very undervalued imo. They are on a forward per of 3.8 for 2009, and 3.2 for 2010, which is the cheapest rating in the Oil Equipment sector for a quality company.

HMS is in the process of being rerated now and is up 7p to 152p today. Still way undervalued imo, I'm looking for 266p before the year with plenty of upside after. At 266p the 2009 per would be only 8.5 and 2010 per would be 7.