• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 9 days Does Toyota Know Something That We Don’t?
  • 3 days America should go after China but it should be done in a wise way.
  • 9 days World could get rid of Putin and Russia but nobody is bold enough
  • 11 days China is using Chinese Names of Cities on their Border with Russia.
  • 2 hours "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 16 hours Even Shell Agrees with Climate Change!
  • 11 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 2 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 12 days Putin and Xi Bet on the Global South
  • 12 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
Martin Tillier

Martin Tillier

More Info

Why This Offshore Player Deserves A Second Chance

There are many big differences between trading and investing from “inside” the market and doing so from “outside”. When you are sitting at a trading desk and following markets every minute of every day you can be fairly sure that you don’t miss much. When a move looks illogical, therefore, it probably is and you react with the appropriate confidence. On the outside, however, when something is moving in a way that defies explanation one’s first reaction is normally “What did I miss?” That is the thing I keep asking myself when I look at Transocean stock (RIG).

(Click to enlarge)

Regular readers may recall that about a month ago I wrote a piece recommending RIG. At the time the stock was trading at just above $12 and the idea was to buy with a stop loss just below the $11.70 support. If you did so the trade looked good over the next couple of weeks as RIG climbed to just over $13, but then it turned. The stop was hit on Wednesday and under normal circumstances that would be that.

My trading style dictates, however, that when a stop loss level (or a target for that matter) is hit, I re-evaluate the original thesis. I was taught to do things that way as it reduces the temptation to commit what the old hands in the interbank forex market where I started saw as the ultimate sin…averaging a loser. Over the years I have found that to be the case. Once a position is closed the emotional urges that make…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News