OIH is the new TBT

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I've thought a lot about my TBT trade earlier this week, and I've considered why it made such a good trade. From a charting perspective, the risk/reward was really marvelous. The entry was good. The exit was terribly short-sighted.

My opinion is that OIH is similarly situated. As the chart shows below, OIH broke its uptrend very plainly, and it retraced back up to its broken trendline. A stop at 100.98 would be about as wide as I'd make it.

0716-OIH

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