OSH at 65 cents Flem, crikey that would have been a very long hold, but an excellent trade if sold today.
As I mentioned in a previous post, I opened a long trade with OSH a week or so ago simply due to the perception that oil could continue to climb due to the Iraq scenario, plus bullish comments on Sky Business News at the time. The OSH chart has been only been heading one direction for 3 months now, hence, technically it is neither overbought or oversold imo. In addition, the sp continues to close above the 20 day ma. The last time it closed below MA20 was on 15-Apr-2014.
Since opening my OSH long trade the oil price has retreated a little, but hopefully this will be temporary. Somebody on an OSH thread has reported that Macquarie Private Wealth has a 2 year target of $16 for OSH.
The person on Sky Business News was asked whether they preferred OSH or WPL. He said definitely OSH as he did not like the uncertainty associated with WPL's Leviathan deal, nor the involvement Shell. Consequently, the Sky Business News presenter said that now that WPL has abandoned the Leviathan deal and Shell has sold their stake in WPL, why not buy WPL. The simple answer was that he preferred OSH and they were already holding OSH. However, reading between the lines, I suspect that WPL could be a good buy soon. Perhaps better to wait for a global market pullback for a better buying opportunity though,
