sp'60min
Summary
Market has some soft rising support around 1865, with the recent low of 1859.
I would only get marginally bearish, on a weekly close <1860, which is of course, not that far down.
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Update from Mr C.
Oscar is selling the rallies, and certainly is spooked by the weakness in the R2K.
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I'm still open to picking up RIG again this morning, but only in the $41.50/30 zone. Anything below would suggest bigger problems than just a post earnings reversal. On the flip side, if it can open in the 42s, I have no interest in chasing it higher.
As it is, I still have to drop CHK and DO anyway, although that seems somewhat unlikely today, unless we get a close in the 1890s.
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Its almost the weekend :)
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9.45am... Eyes on SDRL....rather than RIG....
Minor index weakness...I can't take it seriously.
9.48am.. LONG SDRL, from 35.07 indexes look floored...