Dollar Index was strong today and the S&P dropped. This rallied, my view is this is ready to go higher.
There is also some news around this company at the moment suggesting it is a cheap stock.
2-1 R/R nearly. I'll get a stop to break even and then let it run.
Baker Hughes Incorporated ( Baker Hughes ) is engaged in the oilfield services industry. Baker Hughes is a supplier of oilfield services, products, technology and systems to the worldwide oil and natural gas industry. It also provides industrial and other products and services to the downstream refining, and the process and pipeline industries. The Company may conduct its operations through subsidiaries, affiliates, ventures and alliances. It operates in more than 80 countries worldwide. The Company operates in five segments. Four of these segments represent its oilfield operations and their geographic organization: North America (U.S. Land, Gulf of Mexico and Canada), Latin America, Europe/Africa/Russia Caspian and Middle East/Asia Pacific. Its Industrial Services and Other segment includes downstream chemicals, process and pipeline services, and the reservoir development services group.