MB: Many of these companies could be fine, and I'm still a big fan of a lot of the offshore drillers. I would let the market tell you what to sell, because we could be wrong. For instance, I recently recommended McMoRan Exploration Co. (NYSE:MMR).
They're not deep water; they're shallow water, but they have a really exciting new gas discovery; a great big natural gas field. This is a sub-salt discovery, so it's much deeper than the previous shallow shelf drilling. This area was drilled to pieces down to about 16,000 feet. But nobody went any deeper than that. Even though they're not deepwater drillers, McMoRan's share price plummeted after the disaster, and I was really concerned. I had a 25% trailing stop on it, though, and we recently hit it.
http://seekingalpha.com/article/207324-opportunities-in-domestic-oil-service-companies-matt-badiali
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