Dykstra: Technicals Paint EOG a Buy

The stock's chart is showing strong support.
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Although the market has been volatile lately and we saw some big gains on Friday, there has been exceptionally low volume because of the summer holiday and this past weekend's Labor Day holiday. So with September under way, we will look at the near-trade trading as an indicator of the true direction of the market -- and potentially the economy as well.

Today, I will once again stick with my selection of the raw-material companies, particularly in the energy field, and take a look at

EOG Resources

(EOG) - Get Report

. EOG explores, produces and markets natural gas and crude oil in the U.S. and abroad.

This company's technical pattern tells you all you really need to know. The stock peaked at $81.49 on June 18 and has since declined steadily, but is now at a technically strong buying level -- after breaking through the $65 level last October, that price has provided consistent support for the stock. The stock closed Friday at $67.36.

This is a good time to buy EOG. The pick is a limit order to buy 10 contracts of the April 50 DITM calls (EOGDJ) for $17.50 or better.

Game of Life

We hear the term "hero" all the time - you may have even been asked to write about heroes for a grade-school paper. The obvious comes to mind when you think about a hero -- someone who helps other people.

The list builds in your head: doctors, policemen, firemen, etc. But is it fair to categorize heroes into such large groups?

On the other hand, some students may have written about their mom or dad, or perhaps a deceased grandparent, someone who clearly represents a direct relationship to the author of the piece. This path of heroism seems a little more realistic, and it certainly labels far fewer individuals "heroes" than the aforementioned method.

Nonetheless, this is not to say that many, and perhaps all, doctors, policemen and firemen could be heroes. It is more important, rather, to judge and designate the term "hero" to people on an individual basis.

For Cindy Preseil, Ed Kiesel earns the title hero. As a cook on Kiesel's shrimp boat, she went into labor about 30 miles offshore. With no doctor on board, and not enough time to turn back, Kiesel grabbed some paper towels and a first aid kit, and went to work. As if this weren't traumatic enough, it turned out that the baby's feet came out first, which made the situation much more critical.

Kiesel used his fingers to maneuver the baby's shoulders out of the birth canal. However, the journey wasn't over when he realized that the baby's head was stuck and that it was being strangled. With poise and determination, he waited for a contraction, slipped his fingers around the baby's head and pulled him out into safety.

The newborn wasn't breathing, so Kiesel had to perform emergency CPR, working by a book in his first-aid kit. The baby finally took a gulp of air as its lips and cheeks began to fill with rosy blood. He then used twine, sterilized in boiling water, to cut the umbilical cord. Friends and doctors waited at the port, 55 miles south of Houston, to greet the crew, which had one more member than when they had embarked on the eventful journey: a baby boy, which she named Brian Edward Mawhorr.

In cases such as these, clearly any individual can be a hero. It's important to cherish the special people in life who go above and beyond, without expecting any merit or recognition. Going out that day, Ed Kiesel was a shrimp fisherman. As he pulled into the port at Freeport, Texas, he was a hero.

The Players Club cherishes the heroes in our lives. Often, heroes are judged by their occupation, and not as an individual. Likewise, too often in life people are judged by their wealth. By guaranteeing recurring cash flow to professional athletes, through our strategic partner, we strive to make merit the most important aspect in assessing an individual. Remember, the poorest, average Joe, could end up being your hero.

Always remember:

Life is a journey; enjoy the ride!

At the time of publication, Dykstra had no positions in stock mentioned.

Nicknamed 'Nails' for his tough style of play, Lenny is a former Major League Baseball player for the 1986 World Champions, New York Mets and the 1993 National League Champions, Philadelphia Phillies. A three time All-Star as a ballplayer, Lenny now serves as president for several privately held businesses in Southern California. He is the founder of The Players Club; it has been his desire to give back to the sport that gave him early successes in life by teaching athletes how to invest and protect their incomes. He currently manages his own portfolio and writes an investment strategy column for TheStreet.com, and is featured regularly on CNBC and other cable news shows. Lenny was selected as OverTime Magazine's 2006-2007 "Entrepreneur of the Year."