Made my money and got out don't like the sound of the trials and bad press....good move given that the stock has dropped . Will get back in at low 40s. I've done this several times and always make money on it. GLTA
Rig is played by investmen bank traders, computer algorithmes and hedge funds. It reacts in a big way to all kind of things. Traders and computers needs to move a share up or down, else they do not earn any money. Rig is undervalued. Eps in 2014 on usd 6-7 should mean a price sbouth 80-90 usd, 13-15 times earnings. Dividende will come sooner or later. Maby between 2-4 usd. So instead of trying to follow this stupid movements by traders, be patient. By a big chunk snd wait until 2015 as ichan and other hedgefunds intends to fo. This tryel is just stupid and BP will take some small blaim and move on. Rig will be a cash cow and the share price will sooner or later reflect the correct price, usd 80-90 s
The last time RIG was in the low $40s was last June. You waited almost a year to sell? And if you wait til low $40s again, you will have even a longer wait because RIG will have to split to get low $40s again. You better get on the phone and ask management to split the stock in the $80s so that you can get RIG again in the low $40s. What an idiot. Just trade it and accept the trades as they come available. Why dont you just trade it and stop acting like an idiot. BTW, thanks for letting us all know 2 weeks after you sold.
Not trying to beat my chest, just letting you know my opinion its going to low 40s and time to buy more then. The cycle is buy low 40s, then dump all high 50s. Makes money nothing personal. I'm not short no positions. But watching.