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Implications Next Week From A Friday Sell
Sunday, May 30, 2010 - 11:15am | 502A sharp sell off rocked Wall Street into the close on Friday in the final minutes. Stocks like Exxon Mobil Corporation (NYSE: XOM) and Microsoft Corporation (NASDAQ: MSFT) sold particularly hard. These two stocks have been some of the weakest in recent weeks. The weakest stocks will always be...
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Offshore Drillers Drilled (HAL, RIG, APC)
Friday, May 28, 2010 - 2:24pm | 133Shares of offshore drilling companies are getting drilled (pun intended) today after President Obama's decision to close U.S. waters to deep-sea drilling. Obama said Thursday he would extend a moratorium on permits for new deepwater wells. Drillers also will be forced to suspend actions on 33...
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Rig Count Expected to Decrease for Transocean (RIG); Impact on EPS Not as Worse as Expected
Friday, May 28, 2010 - 2:15pm | 204On a recent investor call, Transocean (NYSE: RIG) said that they have yet to receive documentation from the federal government that its rigs must cease drilling, but expects notification soon. According to RIG, the company has not yet begun conversations with customers regarding force majeure, but...
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Calls Sold on Transocean (RIG)
Friday, May 28, 2010 - 10:26am | 126Shares of Transocean LTD (NYSE: RIG) are lower on the session by 4.19%, currently trading $57.21. The stock has been in the crosshairs as of late, plummeting from a recent high of $90. The stock is trading firmly below the 50-day and 200-day moving averages. Calls are being sold on the front month...
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Top 5 Large-Cap NYSE Stocks In The Basic Materials Sector With The Highest Profit Margins (TCK, DVN, SCCO, CEO, RIG)
Friday, May 28, 2010 - 8:25am | 165Below are the top 5 large-cap basic materials stocks on the NYSE in terms of profit margins. The trailing-twelve-month profit margins of Teck Resources Ltd (NYSE: TCK) is 31.6%. TCK’s quarterly earnings grew by 276.80% year-over-year. The trailing-twelve-month profit margins of Devon Energy Corp (...
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Obama Bans New Deepwater Oil Wells (BP, RIG)
Friday, May 28, 2010 - 8:06am | 115President Barack Obama has announced a six-month ban on drilling new deepwater oil wells. He has also cancelled new lease sales and exploratory drilling. The move is in response to the recent Gulf of Mexico mishap. The administration has received flak for the accident. The government is trying to...
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Protection Purchased on HP
Thursday, May 27, 2010 - 12:43pm | 131Shares of Helmerich & Payne Inc. (NYSE: HP) are higher on the session by 4.34%, currently trading $35.32. The stock has been drifting lower over the past five months, but appears to have found support at the $35 handle, which is historical support. I am seeing protection purchased on the name...
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Positives For Oil Stocks
Thursday, May 27, 2010 - 12:15pm | 289Oil jumped higher for the second straight day today. A major pivot low on the oil chart from July 2009 was hit on Tuesday around $68 dollars a barrel. From that level, oil closed at the highs of the day on Tuesday. This created a bullish double bottom and pivot low. The last two days, solid...
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Puts Sold on Pioneer Drilling (PDC)
Thursday, May 27, 2010 - 10:49am | 144Shares of Pioneer Drilling Co. (AMEX: PDC) are higher on the session by 5.13%, currently trading $5.53. The stock has been drifting lower and lower over the past few weeks and is now firmly below the 50-day and 200-day moving averages. I have been tracking put volume, some very large, in the name...
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Put Spread Purchased on Pioneer Drilling (PDC)
Wednesday, May 26, 2010 - 11:39am | 122Shares of Pioneer Drilling Co. (AMEX: PDC) are higher on the session by 2.45%, currently trading $5.44. The stock has been falling off a cliff as of late and it is trading well below the 50-day and 200-day moving averages. I am detecting a call spread purchased in the name today, though it may be...
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Late Market Roundup (JACK, RIG)
Tuesday, May 25, 2010 - 2:18pm | 267Equities have started to recover slowly after an unpleasant opening. By 12:45 pm, S&P index was down by just 1.9% to 1,053, while DOW shed 180 points. Today’s trading would, however, reflect how investors, who are already nervous after the May 6 “flash crash,” will react. The Finance Ministry...
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Puts Purchased on Pride International (PDE)
Tuesday, May 25, 2010 - 12:42pm | 149Shares of Pride International Inc. (NYSE: PDE) are lower on the session 0.13%, currently trading $23.87. The stock has been cascading lower nearly every single day, off from recent highs around $33.50. The stock is trading well below the 50-day and 200-day moving averages, but has entered oversold...
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Noble (NE) Shares Fall Nearly 4%
Monday, May 24, 2010 - 6:39pm | 102Shares of Noble Corporation (NYSE: NE) closed Monday trading down 3.61% at $31.25 per share. Volume of nearly 7.4 million shares was 1.44 times higher than the daily average volume of 5.1 million shares. Shares of Noble Corporation traded between $31.19 and $32.44 per share during the trading day....
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Shares Of Pride International (PDE) Fall 5%
Monday, May 24, 2010 - 4:48pm | 113Shares of Pride International Inc (NYSE: PDE) closed Monday trading down 4.97% at $23.90 per share. Volume of 4.5 million shares was about 1.4 times higher than the the daily average volume of 3.2 million shares. The day's trading range for shares of Pride International Inc was between $23.86 and $...
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Diamond Offshore Drilling (DO) Shares Fall 4%
Monday, May 24, 2010 - 4:38pm | 104Shares of Diamond Offshore Drilling Inc (NYSE: DO)closed Monday trading down 3.98% at $67.74 per share. Volume of 2.8 million shares was 1.18 times higher than the daily average volume of nearly 2.4 million shares. The day's trading range for shares of Diamond Offshore Drilling Inc was between $67....