Oil Services Stocks Show Early Strength

The oil services stocks are trading higher to start the day. These stocks have been decimated along with everything else in the stock market over the past three weeks. This morning the Oil Services Holders Trust (NYSE:OIH) is trading higher by $2.08 to $133.37 a share. Traders should watch for short term intra-day resistance around the $135.00 area. Should the OIH sell off or decline throughout the session traders should watch the $129.50 area as short term intra-day support.

Other leading oil services stocks that are trading higher include Halliburton Co. (NYSE:HAL), Schlumberger LTD (NYSE:SLB), and Transocean LTD (NYSE:RIG). These stocks will often trade right with the OIH as they are all part of the basket of stocks in the Oil Holders Trust. Traders should expect continued volatility in this environment.

About Nicholas Santiago 576 Articles

Affiliation: InTheMoneyStocks.com

Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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