Well, these oil sector stocks made a fine move today. Four stocks I mentioned yesterday, EOG, PTEN, DVN, and MRO, joined the OIH – Oil Services Holdrs in it’s breakout. MRO had a fantastic move. Unfortunately, I missed getting back in, but kept the previous three. I held them overnight, so we’ll see what happens.
The Nasdaq Composite broke to the upside of it’s trend line today. I faded the move, buying QID at 51.89. The QQQQ’s volume was light, and I would have expected a surge into the close if the rally had been real. It may be, but it’s acting weak.
NTRI continued it’s dive. That looks like a bottoming tail today, and the stock may put in a bounce. I missed adding it to my stock picks watchlist today, or would have been shorting that failed buy signal on the daily chart.
Tomorrow is options expiration, so it will probably prove to be mildly boring, as I’d guess most strike prices have already been pinned.
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