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OIH UPL GPRO Chart Patterns
Thursday, January 12, 2006

Closing bell Update

Oil Services Holders (OIH)
I want to update the OIH because, today it is hit new 52 week highs at $145.77. The OIH is a good benchmark for the energy sector. It continues to be the best performing sector this month and has a lot of momentum behind it. Stocks like UPL, SU, and VLO are also making new 52 week highs as well. However, we may get a pull back inthe the OIH to form a bull flag around 140ish.

Today I added CKCM and BMET, and ELX to the portfolio in order to add some diversification.

Gen-Probe Inc. (GPRO)
The 60 minute chart remains bullish. Today GPRO hit the intermediate term uptrend line. It is pulling back on super light volume. Indicators are making new highs on the daily and the weekly which confirms that we are in a wave 3 move upwards.

Ultra Petroleum (UPL)
On the daily chart, UPL has broken out of it ascending triangle and hit a new 52 week high at $63.90 today. Should there be a back test to the breakout line around 60ish, I would use that as a buying opportunity. All indicators are in a 123 bullish trend reversal.

chart patterns
chart patterns
chart patterns