OIH上行阻力重重!
Yesterday, we saw a lot of oversold bounces in the most beaten up sectors. The OIH provided an 80/20 entry once it traded back through the previous day's low ($108.31). This morning, OIH gapped up into Resistance level 1, where it was prudent to take some of the trade and scale the remainder of the trade, in case there was further follow through. The OIH's are weak and the targeted day and a half long strategy didn't change our thoughts on a longer term basis. The trend remains to the downside for now and the OIH closed on its lows today. There are better stocks to key on for longs (look to stocks trading above key moving averages.) The bounces in the weak sectors (OIH, XLF, and XLI) are continually met with selling.