In my first screen shot I've included daily charts of crude oil futures alongside the ETF I'll be discussing today. The indicator you see hovering on top of the price action is a dual 30-period linear regression channel with one and two standard deviations. I like this indicator for gauging longer term trends, and as we can see with both crude futures and the Oil Service HOLDRs ETF ( OIH), we're in a very nice uptrend.
At the time of publication, John Carter held no positions in the stocks or issues mentioned.
John is a Commodity Trading Advisor with Razor Trading. McGraw Hill commissioned him to write a book entitled Mastering the Trade, which was released in January 2006. Carter has also been featured on ABC Money. He and Hubert Senters founded and run the Trade the Markets web site.
On January 19, TheStreet's OptionsProfits is hosting a webinar featuring John Carter of Trade the Markets. Concepts, citing specific trade examples, will include: market sentiment, technical indicators and trading psychology. We will also discuss how to use options and other asset classes to position and manage your portfolio through 2011.
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