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Transocean Ltd. Message Board

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  • kenholmes59 kenholmes59 Nov 30, 2011 12:54 AM Flag

    Here is why RIG is going below $40

    I believe the stock offering was priced at $40.50 in order to create tremendous resistance at $40.00. The new $40.50 stockholders will gobble up any shares under $40. I'm sure these "insiders" were counting (maybe hoping) on perhaps a $10 per share increase to above $50 per share by the end of the year, then sell in January. They are not going to sell in a panic if the stock drops below $40.

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