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Stephen Oakes is an experienced financial titan from New York who brings Wall Street to Main Street. Over the past 11 years, he has developed and tested the renown, Oakes Momentum System, which uses a unique constellation of technical indicators to find timely buy and sell points. He holds an M.B.A. in the United States (New York) and has studied internationally at the Reims School of Management in France.

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Momentum Stock: Omni Energy Services (OMNI)

June 11th, 2007 • Related • Filed Under

The Company is an integrated oilfield service company specializing in providing a range of: onshore seismic drilling, operational support, permitting, and survey services; and dock-side and offshore hazardous and non-hazardous oilfield waste management and environmental cleaning services, including tank and vessel cleaning and safe vessel entry, for oil and gas companies operating in the Gulf of Mexico.

Omni Energy Services (OMNI: NASDAQ) is a play that I had jumped into a very long time ago, one of my biggest gainers in fact.

So, I thought I’d take a second look at it and surprisingly enough, this play is on the verge of something big. The stock has been trading in an ascending wedge pattern so we’ll need to watch the $12/share area to see which was the seesaw goes. If there are any indicators that foreshadow what will come, it would be found in the MACD and DMI. In this case, both have turned positive and provide for an excellent opportunity to grab shares of a booming energy operation.

OMNI

Our Recommendation: Buy shares of OMNI at or near $11.60 and place a 5% stop loss.

Good Investing…

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