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Transocean (RIG) & Ensco (ESV) Update

|Includes:ESV, Transocean Ltd. (RIG)

I have received a lot of questions recently on RIG and ESV two of my recommendations earlier this year.. Both have underperformed the market since my initial blog commentary.

For the record I own RIG in my portfolio, and added at $49 in June.

http://seekingalpha.com/instablog/706857-fear-greedtrader/1967842-transocean-rig-update

and just added shares in my call writing portfolio which can be seen here

http://seekingalpha.com/instablog/706857-fear-greedtrader/2122132-call-writing-strategy-part-4-adding-rig

ESV was purchased in March @ 57

http://seekingalpha.com/instablog/706857-fear-greedtrader/1675931-great-rotation-contd-growth-yield-with-esv

Both stocks have come down to levels where they can be added or new positions initiated.. RIG now trades with a 5% yield , ESV yields 3.6% at present prices..

Both companies are fundamentally sound and I believe the offshore drilling future bodes well for both . Apparently this article agrees with that assessment

http://seekingalpha.com/article/1710912-transocean-will-benefit-from-rising-deepwater-e-p-spending

Conclusion - If you missed them before here is another opportunity to get in at a slightly lower level.. While its difficult to be aggressive adding positions with the market at or near highs , these two stocks will add income & potential huge rewards for the patient investor. Purchase of RIG @ 43-44 level and ESV @ 54-55 while they are on sale , will turn out to be a prudent decision..

Best of Luck !

Disclosure: I am long RIG, ESV.

Additional disclosure: I am long numerous equity positions ( all can be seen here on this blog)I am short gold via DZZ

Stocks: RIG, ESV