potential decent entry, soon, for 10-15 points. Likely will re-test lower T/L area (breakout) by expiry; and gap will likely be r-solved from today. Follow this one, and gaps always seem to always fill. Don't see this as a 'runaway gap' at these levels. But of course we all can be incorrect. Momentum is to downside, but overdone Gonna watch EOD and see if gains any traction. Just a few short days ago this was at 132.50. OIL and oil markets not that much much worse in only 3-4 days. Any thoughts or ideas, other than to fill up car with much lower gas. . IMHO.
OIH moving as expected...was not a question of whether but when. Got 10 points so far. Now... is this a faux rebound or a change of trend? Will re-test near lows. Looking for 118-119 +/= pivot at gap area. Gap up this morning will likely/typically be sold. If not, then we can look for more upside and I will conclude a change of ST trend. I don't purport to be anywhere near an expert on this one, but it does provide some interesting action. Anyone else trade this? Any comments or ideas on future price action into Oct expiry? Thanks
Are you a plunger ? Didn't you read what I said: gap up might be sold. The hammer from yesterday was confirmed but this late selling right back to the open price is not what we wanted. It's a shell game with the OIH.
Isn't the make up of OIH different than other ETF's? I trade BHI and SLB as they follow very close and I think those two are an outsized part of OIH. WTF has problems and HAL has some headline risk. Does any of that make sense, LOL? SteveD
it makes no sense whatsoever. OIH is totally a joke lately; gonna find a new underlying to trade after October 16th.
OIH might test $100? In energy patch- Coal is the most un loved.Obama bad mouthing and suing EPA etc.(also shipments to China (metallic coal) slowing down) Expl& production also have been declining quite a lot since July. Only CVX,APC,XOM have some what falling not much. In Drillers - SLB ,BHI & HAL were standing tall till last week. among the componenets I think BHI & HAL will out perform when OIH starts climbing? I have a dead call option (OCT) in BHI & SLB. it needs a miracle to come back to life! Not worth selling now.! when do the drillers start announcing results?