That just means it was oversold. Only daytraders are concerned with the ups and downs. Even then, they sometimes get caught with their shorts down. Pun intended
I have a core position in SDRL and Call Options spaced out for two years. It's just a waiting game for me.
I say BS. SDRL down 6% while Oil down 2.5% because Petroleum Inventory (Gas, Heating Oil, etc.) increased by 2.5 million ( Claimed total Inventory is 1.3 Billion). WHILE Crude Inventory FELL by 4.3 million.
Although that includes all sectors, Industrial Growth supports their increased demand for Oil. China is the largest importer of Oil taking over 7 million barrels per day. These figures are way above what analyst estimated they would import . The Saudis have stated that demand for oil and supply is Balanced. Unlike USA estimates of a 2.5 million barrels per day surplus. Who do you believe?
Do not believe everything you read. Media has overblown supply while demand is booming. Ex. Not all barrels of oil are the same quality. Therefore the final distribution of refined products, Gas, heating Oil, etc. vary greatly the number of barrels required to produce one unit. USA Sources used to determine supply numbers and projections are estimated. The general public have a UNSATISFIABLE appetite for oil. From electricity, gas, heating oil, natural gas, manufacturing, motor oil etc. the demand for oil is increasing exponentially with population growth. Keep your eyes wide open.
Look for a buying opportunity around 10:30- 11:30 the rise into close to opening price. Let the weak hand fall on short push then jump in on next run up. SDRL will be around for the next 40 years. Oil close to $90 in 2016. IMO
Greece agrees to terms for another handout. China stops Shorts. Iran misses deadline and removal of sanctions will not take place until group reviews any terms for 60 days. Sounds like media is round the corner for a play upward. If Media plays: "Saudi reduce production" or "demand continues to rise dramatically". Then back up the truck.
Most predictions are in the mid $80 range. SDRL should trade for $20 by then. Then 2017 predictions are close to $100. SDRL is a long term buy and hold with the possibility of 200% returns over a couple years.
Baker Hughes (BHI) reported that the weekly US crude oil rig count fell by three, from 631 to 628, in the week ending June 26. The latest figure marks 29 consecutive weeks of falling active crude oil rigs. In those 29 weeks, the crude oil rig count fell by 947.
Funny they failed to mention that the Oil Rig count just this past Oct was1620ish a fall of about 1000 rigs in just 9 months....that's huge.
Too much hype on the Iran deal, wont happen
drop was to enable shorts to cover
Oil price drop over exaggerated by media outlets
Major Market conditions poor, investors looking for value play, SDRL good choice
The Street. After the read all I have to say is "What a crock". Everytime SDRL goes up, they toot Oil going higher is the sole reason. My personal view is that Oil price fluctuation has little to do with the rise and retreat of SDRL's stock price. As soon as investors figure out that OIl is going to be $80 again. SDRL is a good bet to rise over $30 again. Yes $30 and with a divy. They will not go Bankrupt, they will buy another company and will get any funding they need for debt. Off shore drilling is not going away, oil demand is just increasing. Whether it is 1 month or 1 year oil rise is inevitable.
Sentiment: Strong Buy
Yep, that would be a very positive sign, and if you are short I would be out. Next stop is over twenty with a little fluctuation for the playful
Analysts are manipulators. If you followed their advise you would be either broke or leave a lot of potential profit on the table. They are months behind the trend, while they should be forecasting.
Money will not grow sitting on your table. Matter of fact, if it is a US dollar it will probably shrink. Put your money in SDRL for better returns. Now is not the time to sell after the best single day gain in sometime.
Hedgies are Bullish on Oil and accumulating with weak dollar, SDRL down over 50% over 52 weeks good upside potential greater then Analysts opinions, short interest is downtrending, bottom has been drawn. Go long for long term, short term is positive with fluctuation, squeeze between 18 and 20, return of Divy possible don't be caught short or out for that catalyst.
Sentiment: Strong Buy
Beats earning estimates reduces long term debt by 1 billion and 200 million more cash on hand. Oil doesn't control a stock, the ups and down in the price are driven by buyers and sellers, not oil's short term fluctuation. Especially US oil Obama Vetos Keystone pipeline Supply numbers are two months old Old Oil rigs retiring highest in 20 years NY Governors says No fracking here Frackers cutting jobs, shutting operations. My only concern is "Can SDRL reduce debt load without selling Rigs?". Total Asset worth is 26 Billion.
I am all ears (because I have no hair) and always like to hear other's POV.
I have a position already and do believe that this could be easily $10 before the middle next year.
Sentiment: Strong Buy