RIG, daily
SDRL, daily
Summary
Suffice to say, considering the broader equity market, the energy sector remains very weak.... but then... Oil itself continues a multi-month down wave.
If Oil $66/60 in early 2015, then the oil/gas drillers will continue to decline.
Most bearish downside targets...
RIG, 20/17
SDRL 12/10.. although the latter would likely require some degree of major downward revision for 2015 profits.
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I am long term bullish on both companies, but until Oil levels out, there seems no point in getting involved on the long side.
