DLS Chart Update - 22 February 2015, page-3

eshmun, traders usually have to work a lot harder to push a stock up than down. That's why they say 'down the elevator, up the stairs'.

Although I use technical analysis I don't do so in isolation. I understand that the fundamentals drive things in the long term.

Oil price, who knows. The oil stocks have started to decouple from the oil price in part due to corporate interest in the Cooper Basin. Now that is out of the bag BPT/DLS/SXY will see ongoing support in my view.

The other interesting thing for DLS is the short interest. It has declined from around 3% of stock to only 1.8% since the start of the year. The shorts who'd been sitting in Drillsearch for a long while (relatively stable at 3-4%) have taken the opportunity to cover. That's a bullish sign for me (especially since SXY shorts have been going through the roof and aren't being covered).