RIG should be holding it's own or even going up. I keep adding on weakness, but something is going on here that I don't know about. This isn't the first time I have been in this position with RIG. It seems like a good buy in here, but someone has been selling for weeks.
has spent a yr and a half searching for it's new trading range. It has dropped 31% from the 52 wk high and now has a yield that equals the yield it had when it was a good company. This $29 level is the top of it's new range, the bottom could be $23, although there is no reason for it to go to $23 right now.
In that the stock is worthless, it will be fun to watch another 250 million plus volume day, as this group of buyers over the last three days bail out at the same time.
going long. The buyers today will be selling by the end of next week at a 6 handle. Spread the losses.
Another huge volume day in store.
Do you think a company that is healthy does an equity offering at a 12 yr low for the stock. You need to study up on some things.
stock, but there are.