21 February 2007

Auzzie, Auzzie, Auzzie... OIH, OIH, OIH!!!

The OIH (Oil Service Holders) only spent 5-10 minutes under yesterday afternoon's swing low @$133.95 before powering higher on the boost in oil prices. I'll be using the 34 bar moving average as a mental stop on the position. Bought the $140 Mar. calls @ $135 apiece and they are ticking @ $160 as I type. The OIH can be pretty volatile so I may bank the profit before the day is through...jfg.

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