Wednesday, May 23, 2012

Oil Services Stocks Run Out Of Fuel

The oil service stocks are under some early selling pressure this morning. The popular Oil Services Holders Trust (NYSE:OIH) is trading lower by $3.93 to $118.25 a share. It is important to note that the OIH has had a huge rally since October 4, 2011 when it traded as low as $95.00 a share. Traders should watch for intra-day support around the $117.65 and $116.70 levels.

Other leading oil services stocks that are selling off this morning include Halliburton Co (NYSE:HAL), Schlumberger Limited (NYSE:SLB), Transocean Ltd. (NYSE:RIG), and Diamond Offshore Drilling Inc (NYSE:DO). All of these leading oil services stocks are part of the OIH and will usually trade very closely together.

Nicholas Santiago
InTheMoneyStocks.com



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InTheMoneyStocks.com is a research and consulting company focused on guiding investors, swing traders and day traders to financial success. Their Chief Market Strategists analyze the markets while making calls on everything from stocks to commodities and currencies. Their goal is to not only guide their subscribers but also teach them their proprietary methods leading them to become investing and trading masters.
Nicholas Santiago
Nicholas Santiago

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