Edited by xD&Cox, 30 January 2007 - 12:35 PM.
Shorted OIH btw 135.15 - 135.3
Started by
A-ha
, Jan 30 2007 12:34 PM
2 replies to this topic
#1
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.
#2
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=
http://www.traders-t...?...c=64592&hl=
Edited by hiker, 30 January 2007 - 12:44 PM.
#3
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.