RIG, SDRL - continued weakness

Whilst the broader market saw minor chop, with weak energy prices, the oil/gas drillers saw continued weakness. Transocean (RIG) and Sea Drill (SDRL) settled -3.2% and -1.5% respectively. Broader outlook into spring 2015 is.... dire.


RIG, weekly

SDRL, weekly

Summary

*I'm trying to refrain from getting lost in the day to day swings.. and focus instead on the bigger weekly cycles.
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I have VERY high respect and confidence in both companies across the longer term, but for now, with Oil weak (seemingly headed for $65/60)... the sector looks set for continued weakness.

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Broader targets....

RIG 20/17
SDRL 12

.. which seem viable as early as next spring.