sector rally

This is a bit of a ghost town of a forum but I did post something similar in the Short Term thread over a week ago.

BOL is very closely correlated to the other Mining Services companies with a correlation of 0.89 over the last 70 days.

So if the sector goes up you would expect BOL to move up also. It has been lagging this time mainly because someone had been sliding orders in from off screen to sell. There has also been a bit of auction BS where there has been a deliberate attempt to make the closing price lower.

In the above chart the blue dots represent the move upward is supported by volume and the yellow the move downwards is supported by volume.

If we look at the Industrials over the last 12 months we can see all the industrials are having movement northward.

Anyway here is the chart with my automatic buy/sell indicators.