David Burrows Diamond Offshore Drilling Inc. DO-N DON'T BUY Aug 21, 2008

There is a very good fundamental case to be made for offshore drillers. If the U.S. Congress allows offshore drilling, these companies are in a great spot. Technically this group has been badly broken in the last few weeks. He would like to see it trade above the 50-day and 200-day moving averages.

David Burrows

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$112.960

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oil gas field services

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COMMENT

Like a lot of drillers, it is cheap. Its FMV easily carries the stock back to $70, and may be as high as $85. The question is, when are things going to turn around.

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David Burrows Diamond Offshore Drilling Inc. DO-N DON'T BUY Aug 21, 2008

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