| Stock trading the now with short term reliable pattern |
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| Monday, December 5, 2005 |
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Symmetrical Triangle Chart Patterns (When we are talking about symmetrical triangles that are only a month or two in my view "that is a horse of a different color". The symmetrical triangle such as the SMH that has taken years could be an example of patterns within patterns or just about a dozen different possibilities (lower odds of getting lucky). That is likely the biggest difference between those trying to trade the "now" and those trying to land the big score on a massive reversal that may or may not happen. Might as well go Vegas and throw the dice..........
From a time perspective, triangles are usually considered to be intermediate patterns. Usually, it takes longer than a month to form a triangle. Seldom will a triangle last longer than three months. If a triangle pattern does take longer than three months to complete, Murphy advises that the formation will take on major trend significance.........Learn More
$OOG
TICKER |
NAME |
ASSIGNED SHARES |
PRICE |
WEIGHT |
APA |
Apache Corp. |
328,847,000 |
68.18 |
4.95% |
APC |
Anadarko Petroleum |
236,344,000 |
93.49 |
4.87% |
BHI |
Baker Hughes |
340,675,000 |
59.41 |
4.46% |
BJS |
BJ Services |
322,344,000 |
38.3 |
2.72% |
BR |
Burlington Resources |
381,048,000 |
74.31 |
6.25% |
CEO UN |
CNOOC Limited (ADR) |
120,536,526 |
69.22 |
1.84% |
CNQ UN |
Canadian Natural Resources Ltd. (US) |
536,949,495 |
47.9 |
5.67% |
DVN |
Devon Energy Corp. |
453,218,000 |
62.29 |
6.23% |
ECA UN |
EnCana Corp. (US) |
860,854,317 |
47.24 |
8.97% |
EOG |
EOG Resources |
240,102,000 |
75.19 |
3.98% |
GSF |
GlobalSantaFe Corp. |
192,347,400 |
46.81 |
1.99% |
HAL |
Halliburton Co. |
508,307,000 |
65.83 |
7.38% |
KMG |
Kerr-McGee |
115,364,000 |
90.3 |
2.30% |
NBR |
Nabors Industries Ltd. |
157,464,000 |
71.71 |
2.49% |
RIG |
Transocean Inc. |
328,775,000 |
66.16 |
4.80% |
SLB |
Schlumberger Ltd. |
588,302,000 |
98.99 |
12.84% |
SSL |
Sasol LTD |
532,105,494 |
33.1 |
3.88% |
TLM UN |
Talisman Energy (US) |
367,272,515 |
50.35 |
4.08% |
VLO |
Valero Energy |
305,599,000 |
101.8 |
6.86% |
XTO |
XTO Energy Inc. |
361,274,000 |
43.12 |
3.44% |
OIL HELD KEY PRICE LAST MONTH
NEXT TARGET WAS IDENTIFIED LAST WEEK AND THIS MORNING AS OF 5:15AM CENTRAL TIME WE HIT IT CURRENTLY SITTING AT $60.00
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