RIG Transocean: Still room to go up

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	David Sachdev
	Washington, DC User since Dec 2009	38
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Still room to go up

So Transocean still has a lot of room to move up - but may not be the fasted mover from here on. But because it has fallen so much, and BP and RIG are making a good recovery today....I'm staying in. I feel that if the market itself falls, this one likely will not. I can see this stock moving into the 70s before I give it another good price evaluation.

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What People Are Saying...

Phil Strong agreed at 10/13/10 11:54 AM Price action was $66.19 1.38 (+2.1%)

Are we still good on $69?

I'll assume there is resistance at 70?

David Sachdev said at 10/14/10 4:11 PM Price action was $66.68 -0.15 (-0.2%)

going to look closer this weekend after release hell is over. But I think we are good to 72 at least. I saw it flirting with 69 again and fell down, so want to check again.

Also - picked up some MBI today on a whim when it was up to 12.55. It was the top runner on my watch, and I see it has now hit a 2 year high. Kinda bullish. May have to cover that as well soon, but that was a reckless purchase on a whim that has paid off so far. Will do DD on that soon too.

David Sachdev said at 10/18/10 11:21 AM Price action was $68.54 1.46 (+2.2%)

....and now the analysts upping from hold to buy on this stock.

David Sachdev said at 11/4/10 1:36 PM Price action was $64.51 0.55 (+0.9%)

Looking good even with the negatives on earnings. CNBC said they expect to see it benefit in coming months from decisions in regards to moratorium.

David Sachdev said at 11/9/10 10:35 AM Price action was $69.59 2.57 (+3.8%)

Thinking RIG is more of a buy here rather then sell. Especially if it pushes up a bit more over resistance.

David Sachdev said at 1/4/11 11:55 AM Price action was $70.29 0.85 (+1.2%)

Thing the drilling news from last night plus the news on BP will help this stock be strong for the coming quarter. Picked up some May 60 Calls

David Sachdev said at 1/5/11 1:11 PM Price action was $72.05 2.40 (+3.4%)

Wow, paying off big today....

David Sachdev said at 1/6/11 8:43 AM Price action was $73.25 0.00 (0.0%)

BP and RIG both moving higher in pre-market.