10am update - oil service sector in flames

Whilst the broader market is generally flat, there is an outright meltdown in the Oil/gas service stocks. With Sea Drill (SDRL) suspending the dividend after missing earnings by 50%, SDRL is collapsing, -17% in the $17s. RIG.. DO... they are all following.


SDRL, daily

RIG, monthly

Summary

*I could drone on all day about the oil/gas drillers, a fair few of which I traded in the early summer....
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Suffice to say... with Oil prices set for $65/60 (at least) by spring 2015, the energy sector is in real trouble.

Broader downside targets...

RIG 20/17
SDRL 12/10.

On any basis though... both stocks will be fine across the longer term, and I will be looking for 'bargain buys' in the spring.
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Since the main market will be quiet today, I'll instead mostly be covering individual stocks, sectors.. or commodites.