[INTRA-DAY ACTION]
Might as well watch some charts today to alleviate the boredom.
From my post the other day, $57 looks like the level RIG needs to break. $57.25 to be exact. It bounced hard off this price (which was the 50EMA on the daily) as predicted. However there was a decent amount of buying yesterday so watch RIG today to see what happens. I would like to see it hold $54.50 today.
I also cite the 3rd major wave of fear in the past year here, with a total meltdown on BAC in the last few days.
Internals at the bell are extremely bearish with $DECN at 1500 and $ADVN at 590. $TRIN over 1.4. Let's see some selling.
Update 15mins into session:
RIG dropped $54.50, market not too healthy and is predictably going for the 09:50 reversal. Watching for some action here and support on RIG at 20EMA daily chart at $53.25
Update 17:10 (12:10 US)
RIG on the RUN today. Very nice intra-day chart with a couple of good entry points. She's sitting at $57 again right now so I'm waiting to see what happens here. Also at the 50EMA on the daily again. Lots of buyers today after a poor opening.
From my post the other day, $57 looks like the level RIG needs to break. $57.25 to be exact. It bounced hard off this price (which was the 50EMA on the daily) as predicted. However there was a decent amount of buying yesterday so watch RIG today to see what happens. I would like to see it hold $54.50 today.
I also cite the 3rd major wave of fear in the past year here, with a total meltdown on BAC in the last few days.
Internals at the bell are extremely bearish with $DECN at 1500 and $ADVN at 590. $TRIN over 1.4. Let's see some selling.Update 15mins into session:
RIG dropped $54.50, market not too healthy and is predictably going for the 09:50 reversal. Watching for some action here and support on RIG at 20EMA daily chart at $53.25
Update 17:10 (12:10 US)
RIG on the RUN today. Very nice intra-day chart with a couple of good entry points. She's sitting at $57 again right now so I'm waiting to see what happens here. Also at the 50EMA on the daily again. Lots of buyers today after a poor opening.
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