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  • BekkaBekka
    Participant
    Post count: 222

    I saw on yahoo finance that institutions own 75% of RIG. It’s under $5, so are these institutions likely to continue holding it or exit it or take it as a loss, based on the principle of not being in stock under $5?

    Sean HymanSean Hyman
    Keymaster
    Post count: 3300

    They can hold a stock under $5. But in general their original entries have to be $5 or over. And some institutions have restrictions of $10 or above.

    However, we know that RIG is for sure another exception. How do we know? Because it does 150 miilion – 300 million shares traded in most any given week. That’s largely institutions and not mom-and-pop volume.

    AvatarDavid Sink
    Participant
    Post count: 3

    Sean, any update or thoughts on RIG after today? Down 23%. Held it since our early days, but would like to know if you think at some point we exit. You win some, you loose some. Thanks for all the wins over the last 6 years with you.

    Sean HymanSean Hyman
    Keymaster
    Post count: 3300

    All oil stocks were down quite a bit today, right along with the overall market too. Remember, from the weekly video, I’ve been expecting a decent-sized pullback in oil. Well, now we’re finally getting it. It just took longer than I expected. After that huge pullback is over, then I believe we’ll see the next advance higher.

    Here’s what oil likely goes. There’s no way an oil stock prospers as it could until oil itself does. Until oil gets well into wave 3 or even in wave 5, there’s no reason why the deep-sea oil drillers should prosper much until then. So my opinion remains the same on them.

    IF RIG’s stock price remains at 76 cents per share or higher (end of wave C) then, here’s its wave counts.

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    AvatarDavid Sink
    Participant
    Post count: 3

    Thank you.

    Sean HymanSean Hyman
    Keymaster
    Post count: 3300

    You’re welcome.

    John StewartJohn Stewart
    Participant
    Post count: 9

    I’m recovering from a brutal one at my day job and gearing up for vaycay, checking up on y’all. Made a lot on RIG–in past years–not touching it now, but doesn’t keep my eye off its part of the menu. Looking to Jesus and Sean for leadership. Right now looking to a little Travis Tritt, as well. No RIG, not now. Been with Sean for ten years, been with Jesus about half my almost 60 years.

    Sean HymanSean Hyman
    Keymaster
    Post count: 3300

    Yeah, don’t re-enter RIG. It’s not fundamentally strong enough for fresh/new capital. But former ones that are still in it can still choose to hold it if they wish. We’ve got far stronger/better energy picks in the LI portfolio and we don’t need another but if we did, it wouldn’t be RIG.

    Thanks for being with me for a decade and for being with Jesus even longer.

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