Monday, August 6, 2007

Charts of Interest.

The oil service holders (OIH) is a must own given my belief in peak oil. Lets give this thing a chance to cool off. An exploratory position may be in order shortly.

The Dow Jones U.S. oil and gas index ($DJUSEN) shows a correction in progress. Is it the start of something larger, only time will tell but this is still in bull mode for now.

The emerging markets i-shares have been emerging but could start submerging if this(very rare) monthly shooting star formation has anything to do with it.

I mentioned Capital One a while back and indicating $69 as the line in the sand. Well..... $69 is toast so you can set your sites on $40. Sorry if this offends the Capital One bulls out there. Maybe if they stop sending me pre-approved credit cards 3 X per month(no lie), they could cut their postage expense in half and boost the stock floating a Swedish Krona denominated, 10yr note, inverted swap issue and use the proceeds to buy back stock.

The chart above says all you need to know about Contango oil and gas (MCF). This is an interesting little play on the Fayetteville Shale which could rival or exceed Barnett. I am not an expert there so I will stick to what I know a little of..... the charts. Good trading to you .

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