Edited by xD&Cox, 17 January 2007 - 10:12 AM.
Oil Services Stocks diverged badly
Started by
A-ha
, Jan 17 2007 10:11 AM
2 replies to this topic
#1
Posted 17 January 2007 - 10:11 AM
While crude cratered towards 50 level all the way, OIH didnt even make a new swing low ...
In fact it is currently almost where it was at the beginning of the month...
I expect the sector to do some upside testing, not sure how high but 150 is among the possibilities imo.
#2
Posted 17 January 2007 - 10:17 AM
I'm still long here but a bit under water. I think it's out of whack with other markets and due for an inflow of cash. Fingers crossed.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#3
Posted 17 January 2007 - 10:40 AM
I am also among the dummies who went long the sector last week at various levels while the rest of the market looks ready to break down...
xD, if the oil issues run that high I would think the rest of the market is still awash with cash and no significant correction of more than 10% should occur...
- kisa