Last week in our ETF Screener report we found that value stock looked good on the charts and oil stocks looked bad. Our Technical Analysis found thatt nothing has changed and for oil the charts have gotten worse. The angle of decent on almost all of the oil related industries is close to vertical. We haven’t seen anything like in a while. Where the knife stops falling is anybody’s guess.

If you own oil stocks and are worried, here is a quick rule of thumb on putting in stops. Go to Yahoo and check the historical prices for your tickers and identify the 20 day low close. If the stock closes below that number, you might consider taking profits or buying protected puts at or near that strike price.

On the bright side, some of the industries that exhibit buy signals and look poised to go higher include:

Value Stocks
Bank Stocks
Beverage Stocks
Recreation Stocks
Insurance Stocks
Personal Goods
Forestry Stocks
Dividend Paying Stocks

Best ETFs to own now

Investors looking to put some money to work in these sectors can look to add the following ETFs: IShares Dow Jones Regional Banks (IAT), iShares Dow Jones US insurance (IAK), PoweShares High Yield Dividend Achievers (PEY), iShares Russell 1000 index (IWD), iShares S&P Value Index (IVE) and for twice the pop on value stocks ProShares Ultra Russell 1000 Index (UVG).

Besides Oil & Gas stocks, the industries the charts say to steer clear from include, coal, utilities, marine transportation and chemicals.