Transocean Ltd. (RIG)

[ogbull]

Loaded the wagon with RIG again at $15.61 per share. Can't believe I'm so lucky. Yesterday's move down was the right response; however, with WTI and brent up today, there is no reason for RIG to drop below yesterday,s close other than market manipulation.

Anyway, at $15.61, I can ride this bucking horse for the long pull.

I also read where many shale oil producers purchased price insurance for $90 per barrel from hedge/insurance companies. They've been selling WTI for ~$50 and getting $40 extra from the insurance companies. This would explain why they continued to produce crude that cost them $65 barrel--they were guaranteed $90. This insurance expires in 3 months. That's when we will see shale production and storage drop drastically.