8 replies to this topic

[greenie]

[A-ha]

OIH is a good short here imo but not WFT... not here... I covered it yesterday for %5 and will not reshort it despite the fact that the sector is topping here. however there is one in the sector that will get cut in half in a few weeks...will be shorting it like a QQQQ this week.

[greenie]

HAL looks bad on a weekly chart. What do you have in mind? Don't you think OIH will try to complete the triangle by bouncing to 145? BTW, have you taken a look at the components of HGX? Seems like the index is topping out. BZH, MTH are the weak ones, followed by HOV, MDC.

[A-ha]

No I dont think OIH can go that high...OIH is topping here at 135-136 imo. HAL is a death meat, going to 22.

[greenie]

Are you saying it based on hourly pattern? Could you please show a chart? Thank you, G.

[A-ha]

The last sectoral TA I posted on my blog is still in play. It is the intermediate and long term setup...

http://xtrends.blogs...setting-up.html

The bounce we seen was just a small correction.

Edited by xD&Cox, 30 January 2007 - 10:56 PM.

[hiker]

Xd...says OIH is topping.

one of the larger energy traders on the floor and on the board of NYMEX, Eric Bolling, said last night on CNBC's Fast Money to buy OIH on pullbacks because the uptrend is in place, and he likes USO to buy on pullbacks.

I see USO as a long while $43.50 continues to hold.

OIH as long ...while horizontal support at 134.75 holds...see Ted Burge's work here....lower right column -

will OIH retest the 20-day sma, and bounce again from there?

http://tic-tac-dough...NEWTODAYBS.html

Edited by hiker, 31 January 2007 - 08:19 AM.

[greenie]

Thanks Hiker. OIH is acting strong here, but its component WFT is not gaining traction. Is WFT saying that the future direction of OIH is down, or is it going to catch up with rest of OIH going up? I had a small OIH short position, which I got stopped out of today. Now, it is wait and watch mode. Best, Greenie

[hiker]

Hi greenie... USO is outperforming OIH in today's % gain so far... OIH horiz. R is 141.75. btw, ck out the 2 year daily on GLD...draw the d/t and u/t lines and you will see an interesting intersection.. $64.50 to 66.42 area of interest on l/t chart --------------- ame Symbol Last price Change Mkt cap Volume Open High Low P/E Noble Corporation NE 74.72 +1.84 (2.52%) 10.06B 2.14M 72.44 74.98 71.96 14.02 EOG Resources, Inc. EOG 69.32 +1.26 (1.85%) 16.88B 2.33M 66.70 69.63 66.33 11.25 United States Oil Fund LP (ETF) USO 48.03 +0.67 (1.41%) 336.21M 3.28M 47.16 48.14 46.50 N/A Noble Energy, Inc. NBL 53.39 +0.63 (1.19%) 9.28B 990,800.00 52.50 53.51 52.25 12.92 EnCana Corporation (USA) ECA 48.65 +0.52 (1.08%) 38.92B 1.38M 47.90 49.01 47.82 5.68 Oil Service HOLDRs (ETF) OIH 136.64 +1.25 (0.92%) 2.13B 7.62M 134.91 137.40 134.40 N/A Transocean Inc. RIG 77.89 +0.68 (0.88%) 22.77B 3.70M 77.15 78.16 76.44 28.22 Halliburton Company HAL 29.55 +0.23 (0.78%) 29.71B 9.73M 29.12 29.59 29.04 13.25 GlobalSantaFe Corporation GSF 57.83 +0.43 (0.75%) 13.50B 2.13M 57.15 58.09 56.60 16.96 Baker Hughes Incorporated BHI 68.45 +0.46 (0.68%) 21.95B 3.35M 67.65 69.20 67.31 9.82 Devon Energy Corporation DVN 70.61 +0.43 (0.61%) 31.21B 2.31M 70.00 70.91 69.52 9.86 Schlumberger Limited SLB 63.40 -0.06 (-0.09%) 74.70B 5.87M 63.11 63.77 62.67 21.06 Apache Corporation APA 72.65 -0.08 (-0.11%) 23.93B 1.77M 71.67 73.01 71.20 8.62

Edited by hiker, 31 January 2007 - 12:54 PM.