Conclusion: Transocean is still is a very speculative issue, in my book. Although everyone agrees the company is well-positioned and a market leader in providing drilling rigs and management services, the courts still aren't through with the company's bottom line. Projection for earnings seem to be universally positive, but what that figure will be is the mystery.
This is not for conservative IRAs. Conservative investors that want to be in the oil services sector should look at the competition but speculative traders could make a few dollars by watching the moving averages and support/resistance points on the 14-day turtle channels.
A chart like the one below could provide guidance:
At the time of publication the author had no holdings in the stocks mentioned. This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV