Brian Hunt, Editor in Chief at Stansberry Research, writes that oil service stocks are breaking out to 6-month highs, according to the chart of OIH, the ETF of major oil service companies.
Brian writes: “If oil continues the slow and steady rebound it’s been enjoying since February, the oil services could run much higher. Just don’t forget your trailing stops once the rest of the crowd figures out.”
An interesting trading play on oil that you may want to keep your eye on. Brian is a very astute trader/investor – I had the good fortune to recently connect with him, and since I’ve started penning some guest pieces for Stansberry Research’s new website The Daily Crux.