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Shorted OIH btw 135.15 - 135.3


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#1 A-ha

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Posted 30 January 2007 - 12:34 PM

posted realtime on the blog, little late here but this could be a %10 trade. initially intended to be a ST trade but subject to change.. as the sector is in a severe IT downtrend.

Edited by xD&Cox, 30 January 2007 - 12:35 PM.


#2 hiker

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Posted 30 January 2007 - 12:43 PM

is this trade independent of your previously forecasted target for crude oil of $64-66? (a reversal swing target before it breaks down again you seemed to say in link below)

http://www.traders-t...?...c=64592&hl=

Edited by hiker, 30 January 2007 - 12:44 PM.


#3 A-ha

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Posted 30 January 2007 - 12:54 PM

This trade is more related to earnings than crude oil. I believe Crude will do a lot of backing and filling before heading higher. Meanwhile OIH has at least one more swing low to make. Crude needs to digest that gigantic volume imo. Regarding OIH, I think $OSX = 165-170 area should do it.