Short NBR?

[Goods]

Looking at the 6 month chart, it looks to be starting a downtrend. But I hesitate with any oil service company right now. Any thoughts?

Nabors (NBR)

[whodi]

it looks to be in an uptrend to me, there was a bearish double top formation before that would of been a good short. Look at the 2 humps between
may 16th and june 7th. June 5th was the lower low compared to May 21st. June 6th was the entry point for the short and you could of made over 2 points. It has now been going sideways and looks to be going up. If I was to short it, I would short the stock at 33.50, which is the low on June 8th. Just my opinion though

http://finance.yahoo.com/charts#char...urce=undefined

[Goods]

That's why I ask before I trade.

I'm looking at the May 21-22 high then June 4 high slightly lower as well as today's close.

Not considered a trend reversal until it drops below the 50 day SMA then? Still learning...

Thanks.

[whodi]

Look at the formation between Feb and March, it almost looks Identical and then look what happen after March.

[Goods]

Yep, there it is. I owe ya. Thanks again.

[whodi]

No problem, I can be wrong be it doesn't look bearish yet.