Here's Another Way to Play the Energy Field

The Market Vectors Oil Services ETF is another way to take advantage of a turn in energy stocks.
By Bruce Kamich ,

NEW YORK (TheStreet) -- Looking for another energy name to buy? Look at the Market Vectors Oil Services ETF (OIH) - Get Report .

In this chart above of the OIH, we can see a bullish divergence between the equal lows in price in August and early October and the higher lows from the momentum study in the lower panel. Compare the quick selloff in August to the slow decline in September. The slow decline happened because someone was a scale down buyer of OIH. The second point to note on this chart above is how the OIH has stayed above the 50-day Moving Average all during October and is starting to push up.

Bottom line: Buy the OIH here and use a stop close only order below $30. Next target on the upside should be $35.

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