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Forum Newbie
Group: Forum Members
Last Login: Wednesday, October 17, 2007 9:51 AM
Posts: 3,
Visits: 13
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Asif,
DO reported great earnings , yet all the drilling stocks are taking a big hit without much news.Infact crude oil hit a record this week briefly and yet this stocks are taking a hit...any ideas on this sector?
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Forum Member
Group: Administrators
Last Login: Friday, December 12, 2008 12:02 AM
Posts: 35,
Visits: 172
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| With excellent earnings, several long-term contracts in place, crude oil near record levels and valuation that still looks cheap after recent gains, it is indeed perplexing to see Diamond Offshore (DO) drop over the last few days. General market weakness combined with the fact that the entire oil sector pulled back today (the Amex and CBOE oil indices are off 3.8% and 3.6% respectively) could explain the drop. It is nice to see the stock recover a little in after hours trading.
--If the doors of perception were cleansed everything would appear to man as it is, infinite. — William Blake.
Yes, I am blogging @ http://www.sinletter.com/ablog.aspx
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