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Oil Services (OIH) and Arcelor Mittal(MT)

Published on May 21, 2007

Oil Services (OIH) and Arcelor Mittal(MT)

May 21, 2007

Just like locking profit, I also never regret working out before starting the day. It’s tough to push yourseld after a comforting weekend, it’s always good to go to gym. Freshens up the mind and body.

Let’s begin a new trading week. After may expiration and pinning of SHLD, GOOG, AAPL, GS and OIH, the stocks will now experience a fresh movement. I had highlighted 3 bullish set-ups last week here, good to check out the performance- ESRX (Up), BA(Flat) and HCR(flat). Let’s see where do these go this week. Here are two interesting stocks, again for speculative trades, OIH and MT.

oih-technical-05212007.pngOIH is roughly retouching 2 year high after falling as low as $120. It is at Pivot point and may break out from here. Be careful though, so as to avoid being trapped into any sell-off.

 

 

mt-technical-052107.pngMT is at fresh multi-year high behind Mr S. Mittal. It just brokeout from $58 range and is about to take-off from here. Volume was also above average on the breakout.

Do your own DD before diving in, and as a good trader, avoid getting into trades before 30mins from market open. Let the dust settled first so the vision is clear.

Profitable trading, OptionPundit

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