PK; RE:" OSX.X and SLB "
...we should probably move over to the Drillers thread, PK.
Yeah - i see what you mean with the OSX.X and the SLB bellwether. They are in-sync with one another, but the OSX.X is definitely stronger-looking, with an UpTrend bias channel, wheras SLB is moving more horizontally.
Reason is probably more fundamental than technical, Dave. There was a massive acquisition by HAL, I think it was; and the OSX.X includes the Machinery & Equipment boyz as well as the Services sub-sectors within the whole OSX.X I think SLB is not only big, but also integrated. When I was following the OSX more closely, I would divide the OSX.X index into OSX.D for drillers, OSX.M for Mach & Equip, and OSX.S for those stox in the Services sub-sectors of the 'composite' OSX.X ...I used OSX.* for SLB, and did not include SLB in any of the sub-sector lists (which I got by combing through Yahoo's extensive database and...
tscn.com
...you know, there are persistent rumours that SLB is/was a holding of Soros'. I read a little blurb the other day in the Herald Tribune that SLB landed the deal to provide all the services to the Russian giant, Gazprom or something like that - supposedly worth a billion $ over the term ??
- look at the SLB,W weekly candlesticks and dig that big-time Hammer last week on it, and on the OSX.X too. Question now is, will that window gap-up get "closed", or will it become a support from which to launch a recovery of the Oil Service Sector ?
...because CL98J oil futures look like they may go back below $14 without stronger evidence that this (latest) accord has "teeth". There was a doji after long white candle yesterday, followed by a weak-looking hanger 'stick today: $14.75 is the window gap resistance that crude futures gotta bust through, it looks like -?
-Steve |
