sp'daily5
Summary
Well, tis the day before the holiday. Trading will no doubt be very muted, and probably dry up almost completely by early afternoon - once all the econ-data is out of the way.
For those around today, I will look at some individual stocks.. since the main indexes will likely be flat.
---
*notable SEVERE early weakness.. SDRL, -10% in the mid $18s. Most bearish target remains $12/10 by spring 2015... but that will need Oil 65/60.
After a little digging, it would seem SDRL has suspended the dividend after lousy Q3 earnings (or lack of). 31 cents profit.. vs exp' of 68 cents.....
So.. SDRL still made almost $150 million, but considering future Oil prices... Q4 and Q1 will likely be far worse.
Spring 2015... it might make for a tempting long term buy.
--
Have a good Wednesday