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Editor: Rod Sullivan
Profession: Maritime Attorney

Category: Unseaworthiness and The Jones Act

Tidewater Marine (TDW) and Diamond Offshore (DO) have been posting new highs in the stock market in anticipation that oil prices will continue to climb. That is good news for seamen working in the oil patch. That means more jobs for everyone.

Mutual funds are loading up on these stocks. They are in the 99% percentile of mutual fund purchases for the past six weeks. They may be overbought now, but it reflects optimism about the future of rig boats and offshore oil drilling.