Chevron (CVX) and Transocean(RIG) are down on the reports of a big oil leak from a rig located close to the coast of Brazil. Neither Chevron nor Transocean has denied or acknowledged the leak. Chevron has issued a statement that the valve has been killed. Speculation is that the spill is bigger than the BP (BP spill in the Gulf of Mexico).
A news of a big spill always provides excellent trading opportunities. investors are well advised to keep a close eye on Chevron and Transocean.
We will be closely following these two stocks in the Real Time Feed of the ZYX Short Sell Change Alert.
