Buying OTS, Canadian Oilfield Solutions

Click here to hear an "interview" with Ken Berg, President and CEO of Canadian Oilfield Solutions Corp.

Our interest is in the charts.  We'll start with the weekly view, in which we see a downtrend broken and possible uptrend and imminent breakout:

We've been watching it for months and hold an existing position at an average price of $0.16 

Here's a closer look:

We like the steady accumulation and recent rise in volume.  However the price has not gone up with volume or with a global equities rally of historic proportions, and the junior venture arena remains out of favor to put it politely, so the higher likelihood is an eventual breakdown in price and if that happens we'll sell on any close below $0.14 

That's a very tight stop in an attempt to limit risk to the current trend (in red).  With a major stock market reversal likely dead ahead, and a very possible further drop in gold and silver which would hit Canadian shares of all types especially hard, we'll play it prudently.

If it begins to close regularly above $0.175 we'd become very bullish and probably add shares. 

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