Well that didn't take long. As I posted last week I took a major stake in NOV [National Oil Well Varco] and Friday September 19th I sold off 50% of the position when it was up almost 14%. I expect this to go higher along with the rest of the oil services sector but not only am I going to take profits when they are there, the market has gone up so far, so fast, that we will get a pull back this week. We'll buy more at that time.
Because of the run up we will be looking at the ticker QID on Monday. The QQQ ultra shorts. We will be looking at resistance at the 200 day moving average. If it holds in the $38.00 range we will BUY!
1 comment:
I started buying the energy services stocks a year ago last February. NOV has been a great ride!
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