RIG, SDRL - continuing to collapse

With severe weakness in oil prices, the oil/gas stocks continue to slide. Transocean (RIG) and Sea Drill (SDRL) settled by a very extreme -5.3% and -8.8% respectively. Near term outlook is very bearish... with huge declines likely into spring 2015.


RIG, weekly

SDRL, weekly

Summary

Suffice to say, both companies are 'soundly based'... but are being severely impacted by the continuing strong declines in Oil.

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Targets...

RIG 20/17
SDRL 12,    both by spring 2015.