GOOG I-Watch

7/26/2006

OIH


These drillers are overheating fast (again) after that break below the line just 4 days ago. Yes, it was bearish and still is unless oil can set a new high and fast.

Rangeless bound


Appears to be precariously below the 200 but that could change in a heartbeat to prop up the S&P. The day of reckoning could be one more false break away.