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To: CommanderCricket who wrote (81791)	3/22/2007 7:40:33 PM
From: jils	Respond to of 206166

cc; believe me i hear you loud and clear but i am strictly going with the OIH chart and looking for some back filling in the next 2-3 weeks. maybe not the best risk/reward but i need to hedge the long positions as well. i am presently a holder of those lagards specifically PTEN and NBR and want nothing more for them to pop but in the ST thats not in the cards. i have been trading the OIH using options for over a year now with soime pretty good success - albeit this time i was way early on a couple positions. no fretting though - as GREENLAW says she can turn on a dime and and usually does not move more than 8-10 pts either way before reversing direction somewhat. best joe

To: CommanderCricket who wrote (81791)	3/22/2007 8:05:02 PM
From: chowder	Read Replies (2) \| Respond to of 206166

Re: OIH ... I agree CC. No frothyness in the OIH unless one is looking mini term, or in the coming week. In looking at a weekly chart for an intermediate to long term view, price has formed a symmetrical triangle which flashed a buy signal this week. Technically speaking, a symmetrical triangle is a rally to a relative new high, a pullback to an intermediate term support level, a second rally that does not exceed the recent high, a second decline that falls short of the intermediate term support level followed by a breakout on strong volume above the trend lines created by joining the new high and the secondary high. Why does it happen and how do you play it? Described here: baresearch.com Based on the implied price target as explained in the above link, it will take an OIH at $192 before it becomes frothy. Short to intermediate price target $165. Longer term $192. Stop $125.