Charts suggested to buy Oil Drillers ETF (OIH) last week (see post here) .  In the chart below, Drillers (OIH) and Oil Stock ETF (XLE) have both broken channel resistance of late and are attempting to reach the next level of channel resistance.


These two started reflecting relative strength almost two weeks ago and continued to do so last week.  Suspect the news from Egypt will keep a decent bid in on this sector.

Game Plan… Keep a 4% stop on the OIH position.  Am picking up XLE here with a 3% stop.

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