SLB was down almost 4% today and yet today was a great day for SLB in my opinion. First off they were upgraded to outperform by Credit Suisse plus their profit was up from last year. I haven't heard the conference call (http://biz.yahoo.com/cc/1/88051.html) yet but the most important thing for me is the volume which is depicted on the chart above. Look at all the green bars after it bottomed. I think that is institutional money coming in which means that they expect SLB to make a move.
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1 comment:
Nice chart
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