Monday, March 19, 2007

Oil Drillers Continue Showing Strength



Last Thursday I commented that the Oil Drillers were showing relative strength when compared to crude oil, well today many of the oil drillers had nice moves to the upside even though crude oil was down on the day early this morning.

Today was pretty much a broad based rally in the market, but the oil drillers and refiners were the strongest stocks of the day.

As you can see the OSX has made a new 2 month high today. Stocks like SLB, ESV, CAM, MRO and SII all made new multi month highs.

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