We Are Falling, And We Can’t Get Up
When an entire sector is moving, that is a signal of the big boys moving some
stock, and can many times be a good time to hop on for the ride.
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10:12:19
Intraday Setup Alert
The oil service sector ($OSX.X)
is showing weakness in the face of the markets strength this morning. Some
of the issues beginning to set up in counter trend rallies off the intraday low
include Schlumberger (SLB),
the oil service holders (OIH),
Smith International (SII)
and BJ Services (BJS).
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Schlumberger
(
SLB |
Quote |
Chart |
News |
PowerRating) sets up in a counter trend rally off the low
and proceeds to move nearly 1 1/2 points lower out of the pattern, giving ample
time for TradersWire Interactive
subscribers to take advantage as the stock moves lower out of the pattern.
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Pay attention when several stocks are moving together in tandem
— particularly when they are in opposition to the trend of the market. When
stocks are showing strength, pay attention to issues that don’t come along for
the ride.
Have a great weekend,
Duke