My guess, we have seen the high forever @$57 and will see 52 weeks low in a month.
I'm keeping it and see what shakes out on earnings. The shares needed to be punished for earnings disappointments, but in my view it is overdone way overdone. Looking for $28 as the base in 3 months. Good divi as well. Low risk to the downside. I only play the risk/reward. There is more chance it is going up than down at this level.
CLF announced their date for earnings report. Any smart poker player knows the real big news is that they did not pre-announce a BAD earnings at that time...so it means they are going to beat and the stock already bottomed 3/27. The short play is very risky at this point.
13F filing coming out soon. I noticed accumulation of shares starting last March 7th. Whoever is buying did not want to spike the shares...it has been strategically done.
Had you listened to me, you could have shorted it @ $164.58 per my post of 2/4/13 and covered on 2/19/13 @ $157 like I did. Easy money as I stated.
Cat is not participating on this record move up in the market. I shorted 5000 sh @ $90.70 today after hearing that Chanos is short China and the iron ore stocks. The mining operation of CAT may be weak as well as the construction side since China shifted from infrastructure to service/consumer consumption for growth. IMHO.
Just cashed in my chips. Thanks. For the shorters...here's a gift for you. Short JBL, earnings will be bad on 3/20. Good Luck.
Even before Asgard and Invictus are in service, the company would have shown that they are indeed increasing efficiency and controlling costs, divi will have been declared, and rates will have been going up due to more projects by Petrobas, Africa, Asia, North Sea and Alaska opportunity in the drilling business.
People on this board seems to be disappointed or can't understand that RIG isn't in the $60s or higher. Well, my advise is mortgage your house and buy as much as you can here. The reason? See below:
Well, we've heard all of these things: Icahn, divi coming, macondo settlement, etc. But, on the other hand the negatives are cost going up, day rate flattening, mocondo is still not so sure behind us. Yada, Yada, Yada...
Now, the real reason I want you all to mortgate your house and buy as much as you can is....this moment is the inflection point. Macondo will be behiind us. Divi will be coming. But, the REAL catalyst is time...how much time? 12 - 18 months is what the market looks at. So what? Well, buy a ton now because starting at the next earnings report the stock will start to shoot up because in 12-18 months Asgard and Invictus will be in service and then followed up by 4 more deepwater drill ships. That's why! Remember wallshtreet looks 12-18 months, so before they act, you all act now and buy buy buy!