I am kicking myself for missing out on this one. I was waiting for the price to drop about 2 dollars, to 66, to buy it, and then it goes up about 10 percent in the next two weeks. I guess what they say is true: the two worst emotions you can get involved into your investments is fear and greed.
Anyway, this stock is almost at its peak, with a price of 76. Maybe it'll hit 85, but that's really the maximum upside potential for the next year, unless some drastic news or amazing earnings come out. I recommend to hold this stock if you have already bought it and get out at 80; don't let greed ruin your investment. If you don't have it, don't buy it - at least not yet.
For those of you unfamiliar with Transocean, it is an international provider of offshore contract drilling services for oil and gas wells. For a full description from Reuters, click here. This corporation drilled for BP during the oil spill, thus drastically lowering its stock price from the high 80s to 45. However, the company is not held liable for any damages as it was just following the orders of BP. Thus, it was undervalued at 45 and has risen from its ashes. However, its recovery has finished and as of now there is not enough information to buy the stock at this price with confidence of a good gain. Use your funds for an investment with a higher potential upside. Hit that Bull's Eye!
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