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JimVanMeerten (62.35)

Transocean is chart of the day

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January 10, 2011 – Comments (0) | RELATED TICKERS: RIG

 Provided with permission from BarchartBarchart.com's Chart of the Day - Transocean Inc (RIG)Barchart Research Team - Barchart.com - Sat Jan 08, 8:57PM CSTRelated Stocks RIG - Transocean Inc.
SymLastChgPctRIG75.04+2.00+2.74%

The "Chart of the Day" is Transocean Inc (RIG), which showed up on last Wednesday's list of stocks that had a new "Buy" signal from the Barchart "TrendSpotter" trading system. We waited to put RIG on the "Chart of the Day" until Friday when the stock could both post a new high and close higher on the day. RIG last Friday closed 2.74% higher and posted a new 8-month high. Transocean, a partner with BP and Halliburton in the BP Deepwater Horizon oil well, is progressively putting the Gulf oil spill behind it and its stock has shown a recovery. Transocean, With a market cap of $23 billion, is an international provider of offshore contract drilling services for oil and gas wells.

How we found the Chart of the Day:

We found the "Chart of the Day" by scanning the Barchart "Trading Signals" page. That page provides a summary of changes in the Barchart signals. We then clicked on the TrendSpotter "Buy" category to obtain a list of all the stocks for which the Barchart TrendSpotter trading system has just turned to a buy. We then clicked on the "Today's Opinion" column header in order to sort the list with the strongest stocks on top. Further information is available at TrendSpotter help page.

Barchart's Opinion trading systems are all a Buy and Barchart's daily TrendSpotter trading system is a "Buy." Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

1 - TrendSpotter: Buy

2 - Short-Term Indicators: 100% Buy

3 - Medium-Term Indicators: 100% Buy

4 - Long-Term Indicators: 100%

5 - Buy Overall Average 100% Buy

Jim Van Meerten is a professional investor with over 40 year experience in investing in stocks, mutual funds and ETFs.  He shares his knowledge on Barchart in his daily blogs -- Barchart Portfolio Blogs.

 

Through Marketocracy Capital Management you can have a Separately Managed Account that mirrors his Barchart Van Meerten New High portfolio.

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