Opinions
Don Vialoux
Oil Services Vaneck ETF
OIH-N
TOP PICK
Nov 28, 2017
$24.020
Stock price when the opinion was issued
E.T.F.'s
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DON'T BUY
DON'T BUY
Exxon and Chevron make up 40% of this ETF, which saw put volumes at 1.5x its average daily volume with puts outnumbering calls 3-1 this past year. For the last two years, energy has outperformed. In 2023, the price of oil rises while oil stocks fall, which reverses the trend of the past two years.
E.T.F.'s
TOP PICK
Oil stocks in Canada have been overlooked. There is a bit of a base going on and they are breaking out from that base. Eventually they will break out from the bottom. If you think oil stocks are going up this has been a bit of a laggard. They also own some oil producers including Suncor. It is a longer term holding.
E.T.F.'s
This tends to move from around mid-December through until April. Technically, the stock is showing a nice base pattern already. If it moves above its pattern, it will be a classic reverse head and shoulders pattern. Thinks that $26.27 is the magic number, and a move above that will complete the pattern.