Chris Krasowski

Oil Hits $100: Time to Look at Transocean

More over, while RIG is a great long term name for the above mentioned oil supply channel, I'm specifically talking a trade here because I think oil can get a pop higher if it breaches the $100 level for good, and I think its headed there sooner rather than later.

Oil Hits $100: Time to Look at Transocean

I've been in and out of Energy related names over the past year or so. I think there's still room here, obviousy $80 turned out to be a great entry point, but at the same time we are at 90+ oil, so the climb in the commodity is what has really brought out the stock price increases. At this point in RIG, I think that even a seasonal oil fall will not hurt RIG's stock as much as it would have in the past since key metrics aren't yet overvalued and the oil game will be fierce and very rich as supplies get even more strapped in 2-5 years time.