RIG - Fish or Cut Bait | PowerOptions Web Log
Fish or Cut Bait… A key to successful investing is knowing when to get out of a position. For example, the PowerOptionsApplied Titanium TradeFolio(tm) was invested in a covered calls position for Transocean Offshore (RIG). On April 20, 2010 RIG’s Deepwater Horizon drilling rig caught fire and subsequently sank leaving in its wake a huge and growing oil slick in the waters of the Gulf of Mexico. The Deepwater Horizon was being operated by British Petroleum (BP). The initial impact to RIG as a result of the sinking drilling rig did not appear to be very traumatic, as the rig was insured and British Petroleum appeared to be set up to take the brunt of the blame. However, the oil spill continued to be a focal point of the news media, so even RIG’s stock price was taken to the woodshed. Sign up now for PowerOptions 14-day free trial At...
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