A new Play… Heads Up - SLB
The SLB chart looks good, despite today’s nice move.
SLB should make a move to the red dotted line, and if the wind is on its back (via a sector move) SLB could see the solid blue line.
As far as the sector goes, the wind is on SLB’s back… at least until the downtrend resistence is seen.
Also, the SLB weekly chart looks good, and supports the above thesis. If oil rallies, so should the oil services. BUT, the SLB is cheap here and on a fundamental level should reach low 70s again.
FYI: I was going to play this before I went to lunch today, but got rushed and did not place the trade. I missed a +1.20 move 
. I will enter in the AM though, mostlikely the March 07 62.5 Calls.
