“Since peaking in October of last year, the ETF skidded 13% into its early February low. However, it found support at its 200-day moving average and more importantly at the long-term rising trendline drawn from the October 2011 bottom,” according to Barron’s.
Another seasonal idea is the Market Vectors Oil Service ETF (NYSEArca: OIH), which was also highlighted by Barron’s. With $1.3 billion in assets, OIH is the largest oil services ETF and the fund has added almost 1% in the past month.
Although OIH is a pure play oil services ETF, it does share something in common with XLE: Heavy allocations to two stocks. In the case of OIH, Schlumberger (NYSE: SLB) and Halliburton (NYSE: HAL) combine for over 32% of the fund’s weight. The bad news is that Schlumberger is in the red over the past month. The good news is Halliburton is higher by 11%.
Market Vectors Oil Services ETF
