OIL TRADE

The OIH is trading down over 3 bucks today and I am wondering if its too late to sell or too early to buy(lol). Stocks like VLO FTO and HOC should start to see their earnings estimates get ramped up in light of the higher crude prices. Stocks like SLB HAL RIG etc should also see earnings growth ramp as more rigs and services are needed too find more expensive oil. I believe that we will see the near term highs on OIL when we get some sort of shock spiking the price north of $80/90 (IRAN IRAQ VEN NIGERIA, your choice). Until then, my plan is too buy pullbacks or short puts. One more day of selling (probably tomorrow) and I will begin to buy the dip.