In our relentless search for risk reduction and diversification, we are eyeing Transocean (RIG). While natural gas rig counts have declined due to falling nat gas prices, oil rig counts have remained stable. The global economic outlook is not pretty, but RIG yields a 7% dividend and is showing some nice technical developments- riding along the 20 and approaching a cross of the 50. There is resistance ahead in between 45-50 however, RIG is at 5 year lows and would be considered a long-term play. This will fill the energy void in the portfolio nicely as we closed BPT and ETP for a small gain. If we get a bounce tomorrow, that will define our risk and be our entry point.