SLB , Schlumberger Ltd., HAL Halliburton


This company is in the oil equipment services business. They are dependent on the big oil companies in that they serve at their pleasure. In that sense the are a derivative of the the oil companies and should , therefore, trade in a wider range. The B-wave is clear as a bell but so far at least the stock has not moved that much. It should head for $55 for starters (RIG , Transocean, is already at the bottom but it has a few other issues). In any case , if this stock is a guide the oil sector still has a lot of trouble ahead. By the way, this one trades at a P/E of 21,; it won’t need a lot of compression to get to the first target.

Halliburton is in the same category, except that it benefits from vice-presidential interference. The chart and it’s message are the same.