Sunday, March 20, 2011

Transocean Ltd. (RIG)

1. SHORT the week of 9.29.08 at $94.65 with a $134.29 stop. With the "help" of the financial crisis, it took less than three months for the price of the stock to be cut in half, trading all the way down to $41.95 the week of 12.22.08. It rebounded relatively quickly, trading back up to $60 by early February, but it flattened out after that and didn't reach my $67.87 stop until the week of 4.20.09. Gain of 27.9%

2. Reversed to LONG the week of 4.20.09 at $68.20 with a stop at $44.78. Traded as high as $94.88 the second week of 2010 before getting stuck in an $85-90 range that lasted into April, then plunged straight down on the heels of the BP disaster, immediately triggering my $75.68 stop the week of 4.26.10. Gain of 6.0%

3. Reversed to SHORT the week of 4.26.10 at $72.32 with a $95.77 stop. By early June it had fallen to a low of $41.88. Then it slowly began working its way back up, eventually rising to meet my $61.54 stop the week of 9.27.10. Gain of 11.0%

4. Reversed to LONG the week of 9.27.10 at $64.35 with the stop set at $47.86. Traded sideways between $65-70 for the rest of 2010, then began moving up in early 2011, trading as high as $85.98 the first week of March. Over the past couple of weeks it has dropped back below $80, closing Friday at $78.44. The stop is $69.14. Gain of 21.9%

Winning Trades: 4 | 100.0% | $13.16/share avg.
Losing Trades: 0 | 0.0% | -$0.00/share avg.
Average Trade: Gain of 16.7% | $13.16/share

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