RIG, SDRL - drillers soar on Oil gains

With WTIC Oil seeing a net daily gain of around 5% (into the $51s), energy stocks saw powerful gains. The oil/gas drillers of Transocean (RIG), and Seadrill (SDRL), settled higher by 10.2% and 6.7% respectively. Near term outlook is bullish, but broader trend looks highly vulnerable into the summer.


RIG, daily

SDRL, daily

Summary

Whilst Oil remains very volatile, there is not yet a decisive floor... certainly, WTIC in the $35/30 zone looks viable later this year.

With that under consideration, the oil/gas drillers still look vulnerable, despite offering a multi-week/month floor.
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*For now.. despite being a fan of both companies, I have ZERO interest in getting involved at this time.. and will merely keep an eye on both into the summer.