across the board oil drillers are sitting at their 50 day MA today. NBR has touched it several times. my own feeling is that last hour of trading OIH and the sector will rise. I am buying call options to trade in for next week.
I have has this stock for 2 years. I share the same pain as others in this board. I know it used to not follow any chart and go up and down with natural gas. however, past 2 months it is corresponding well with OIH and therefore with price of oil. although OIH follows the price of oil, it is also follows resistance and support points on the chart.
I personally think all these stocks will move up as soon as there is couple of weeks of draw down.