I'd like to book some profits here also, but every morning I wake up to the share price being 30-40 cents higher than the day before. Not real fond of holding through earnings either, as I may be able to buy back lower afterwards.
I haven't taken any off the table yet, I've got it for the long term. I'm just worried, that, if earnings are not what they should be, this thing is gonna drop like a rock, back to around $35.00
I just took some off the table near $40.90. I also did an options protection play buying the April 40 puts and selling 2 April 35 puts for each contract of the 40's purchased (1x2 ratio put spread) for a net debit of 77 cents. It offers some protection and gets me longer at $35.
This is getting overbought, but with earnings next week and the market overbought I figured I'd be a pig rather than a hog.
I think sdrl is going higher, but it's no longer a no brainer.
“The consensus earnings are $0.76, with a high and low of $0.92 and $0.70, respectively. The mean has not changed significantly as the end of the quarter nears.”
I sold half a while back to buy DRYS. Sold the rest on Wednesday and bought more DRYS as it crashed yesterday. SDRL is getting pretty toppy up here, even with the great dividend and solid management. DRYS is not at all getting the valuation it should for it's ORIG ownership. Yes, probably because of the CEO, but that should fade with time and good results from ORIG.
Fidelity has short crude SCO target at $13 It is trading now at $32 so SDRL has lots of room to move forward, plus other oil plays. It will be a good while before the trend reverses. I am holding for upward gains. I watch this stock closely so I have time to exit if and when it occurs, but I don't see it happening anytime soon. GL to u.