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Playing the Ponzi
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Why “Playing the Ponzi”? I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is created as debt, and running straight through a global economic model that is based on infinite growth in a finite world. This won’t end well. I’d go a step... More
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Playing the Ponzi
  • RIG: An interesting bottom-fishing candidate 0 comments
    Dec 9, 2011 11:43 AM | about stocks: RIG

    I haven't offered much in the way of long ideas -  some of you may not know that I even entertain the idea - but this article from Jim Van Meerten at Seeking Alpha prompted me to have a look at the chart of RIG, and I like what I see.  That's not to say it's a pretty chart, because it certainly isn't.  But for investors who are fascinated by falling knives, and love the thrill of potentially gashing open your portfolio with a collapsing stock, boy is this an interesting candidate!  RIG, still the acknowledged worldwide leader in deep water drilling, is re-testing its lows from 2008 and 2010.  In fact, at the moment it is actually breaching those lows.  Why is that good?  Well, it means that if you enter a position here, the emergency exit is just a few points away.  As for actual upside catalysts, I have no idea.  I just found the chart intriguing.  Jim Van Meerten has a few ideas, though.

    Stocks: RIG
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