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.
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
