Transcocean coming back (RIG)

Well, in November I posted my recommendation for buying Transocean (RIG), citing that it was #1 in its industry and had severely beaten stock price only due to oil spill woes and not to actual financial results. The last few days RIG has shown an amazing comback. I will admit that I bought a lot of RIG and then watched even my low priced purchases turn into a 15% loss. I bought 4 times, each time lower than the previous and I still saw my balance at down 15%. I did not freak out and now I am down only 0.5%. I plan to sell when I am up 8-10%  I made my last purchase when I recommended you do so, a day before ex-dividend. The dividend payment on that last purchase was 1.77%...not an annual return of 1.77% but the dividend itself was that much.  I imagine in the next few weeks I will sell at an 8-9% appreciation and factor in the 1.5% or so dividend for about a 10% return in 4 months.

I just think its great that such value options exist. Probably I should hold onto RIG until it rises up to $70 a share...but my goal is usually 10% in 3-6 months time. Some stocks seem to get up to a 10% gain and then go back down or hover in the same spot for a year. I like to sell when I'm up and quit watching the darn think. Like in this case with RIG, it has taken me through an emotional roller coaster enough already. I'd like that to end and 10% in 4 months if fine by me. A recent post chronicles a similar story with CSCO, although that one required about 7 months of waiting and purchases over about a 4 month period. CSCO has risen past when I sold it..but not by much..and without selling CSCO I would not have been able to buy as much RIG.  So, I prefer to make 10% on two occasions in a year instead of making 11% in one year..maybe.  Such has been my luck so far atleast.

Nevertheless, I remain a friend of value investing and encourage you to do the same.