The drilling moratorium looks to have ended today (see article here). Suggested to buy the Oil Service ETF (OIH) in the chart below on 9/30 (see post here).
Below is an update to the chart above.
Wait for news like today to be released or use the “Power of the Pattern” to your advantage? Change to a 5% trailing stop.
Late? I think the party is just getting started for these guys. What were earnings downgrades will be become upgrades. Chris caught the move as the release of the moratorium began to get priced in prior to the date. Earnings, in my opinion, will be depressed for this quarter, but forecasts will be raised sooner than later.