It looks like Halliburton might be setting up for a little short play here. You can see how it topped out twice at $47 on Wednesday and Thursday and the candles turned red on Friday. With the stochastics crossing over and turning down at 94.57 HAL could be in for a little pullback, but don't get your hopes too high it probably won't go much below the prior support of $40 a share. In fact given that the 50 day moving average is $40.57 I would be surprised to see it go even that low.It is not wise to bet against this deep pocketed, well-connected defense contractor with its well unknown off-balance-sheet human trafficking and forced prostitution subdivisions generating trillions off the books for its board members and major shareholders.
I think the smart way to play this one is to wait for the pullback. Then when the stochastics start to turn back up we can get a better feel for when to go long.
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