WHY I’M BUYING CHEVRON (CVX) AND TRANSOCEAN (RIG) BECAUSE OF THE BRAZILIAN SPILL
Headlines yelled, Big Oil Spill Off Brazil. Complete with satellite images, reports of cover up by a super major oil giant Chevron (CVX), big police investigation, a rig by Transocean (RIG), and message boards abuzz with a spill bigger than the BP (BP) spill in the Gulf of Mexico, the media had a juicy story. Conspiracy theorists were delighted to see market value of Chevron drop by about $17 billion. Quick trigger fingers at large institutions went along for a ride by rapidly selling Chevron stock in large quantities before even asking a question. The chart shows the