bhowe
Long

RIG goes higher

NYSE:RIG   TRANSOCEAN LTD (SWITZERLAND)
52 0 4
I might be a little early here, but I like RIG and I'm BUYING. After a 78.6% retracement off the highs it looks promising. The RSI and %R are oversold and have acted as a good buy spot in the past. The company has positive net income so fundamentally pretty solid. Earnings are a way off so no near term shocks. The 15 min chart shows a double bottom , which usually gives a bounce if only near term . I like $8.97 as a buy point, very low side risk.
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