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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 659.00

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Nov 21 4:00 PM EST

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To: Johnny Canuck who wrote (43283)	5/5/2006 11:55:47 AM
From: Johnny Canuck	Read Replies (1) of 68224

11:14AM Fitch places Transocean on rating watch negative (RIG) by Katherine Hunt SAN FRANCISCO (MarketWatch) -- Fitch Ratings on Friday placed Transocean Inc. (RIG) on rating watch negative following comments made by management during the company's quarterly conference call. During the call, the Houston-based offshore drilling contractor indicated it is currently in the process of exploring all opportunities for returning cash to shareholders, among other comments. While Fitch believes Transocean's management and board will ultimately act in a prudent manner consistent with the company's current ratings, comments made on the call were inconsistent with past behaviors and public comments, the agency said. Fitch said it expects the issue will be resolved within one to two weeks after Transoceans's next board meeting, when a decision is made regarding how to best return cash to shareholders.

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