RIG - surges on good earnings

Whilst the main market saw the first significant weakness in over a month, Transocean (RIG) jumped after earnings greatly exceeded market expectations. RIG closed with very significant gains of  7% @ $52.45 - with an intraday peak of $52.95.. Near term outlook looks very bullish.


RIG, daily

Summary

I am extremely impressed with Q3 earnings, and RIG looks set for a good 2014.

see yahoo finance news for RIG earnings.

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The underlying balance sheet looks reasonable...

see key stats @ yahoo finance


From a pure chart/price perspective, the jump above $50 was indeed the catalyst for a snap/break reaction, and we're now clearly in the early phase of a very significant move higher.

Targets for 2014..$75..and then $85.

*if the main market sees general gains into late 2015 (as I currently believe)..then RIG is probably a $125/150 stock by that time.

The option calls - $80 strike, Jan'2016..look extremely attractive.
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RIG looks in good shape for 2014..and indeed...much further out.