Monday, 1 December 2014

BTU, RIG, SDRL - energy stocks continue to collapse

Whilst the broader equity market only moderately fell, there were again severe declines in all energy related stocks. Peabody Energy (BTU), Transocean (RIG), and Seadrill (SDRL) settled lower by -7.6%, -4.9%, and -5.0% respectively. Outlook into mid 2015 is bearish.


RIG, monthly

SDRL, monthly


*since it is the start of a new month, the bigger monthly charts are also useful to see the net daily gain :)

The coal miners were all smashed lower today... BTU... ACI, ANR... the usual names

The oil/gas drillers saw further massive declines, with RIG and SDRL effectively now at primary downside targets. Considering that Oil now looks set to fall into the $50s (perhaps even 40s) at some point next year, the secondary downside targets for RIG and SDRL are both now very viable.

I am long term bullish on BTU, RIG, and SDRL... but for now.. they are still on the slide. Certainly.. I have zero interest in getting involved in any of them for some months.