After today's massive romp up I thought it was time to post an update on the triple calendar trade I've been tracking this month.  So far I've had to make two adjustments because of hard downward swings, but the last move has largely retraced:

As you can see, we are miniscule 9 points away from another adjustment back to the upside.  I HATE doing that.  It's one thing... read more

I'm sure many are watching this right now, but we might be seeing a fairly ideal head-and-shoulders pattern develop in the S&P.  Many have been calling for it, and this could be the mother of all shorting opportunities.

Of course, none of us know what will happen here, but it feels like a blend of technical and fundamental indicators are all lining up for this. If the final... read more

That was one hell of a reversal day today; however, should the market decide to head higher (still in the neutral zone according to this) consider OIH or one of it's holdings, such as SLB, RIG, or NOV.  OIH has maintained its March trendline and may be finding some support around major moving averages.  Look for a close above the 20ish day EMA to get long - that has been a fairly reliable entry point on pullbacks this year.