Snuck in a quick trade this morning. Things have been hectic with work and my parents visiting, but I did manage to get one in for the week.
Traded WFR for a quicky. It gapped lower so I was looking for signs of strength for a potential gap fil and found it after walking the dogs. All the stars were lined so I pulled the trigger at 17.43 and rode it up to 17.65 for a 22 cent gain... times X amount of shares of course.
Here's the setup... BTW, the stock has been hammered for the past week, so I didn't want to hold it even for a swing trade... As I'm writing it looks like it's gonna pop again...
Here's my contribution to the RTS part of the presentation (near the end). It was actually an emergency last minute request from the team so I was kinda stuck doing it. Hectic weeks leading to E3. Anyway, I'm glad the turnout was positive.
Closed UNG it at $15.72. Could've made more but don't wanna be greedy in a bear market. Still happy with the profit... I mean profit is profit.
It was looking like an inside day which usual means a reversal of the recent trend. Additionally, I have E3 in a bit so having this on my mind would get me too distracted. So, cash position for now.
If USO (crude) is any indication of the direction of the energy sector, then it seems that it has formed a short term top. I'm looking at a retracement or a gapfill of 36.4 eventually. So I'd stay away from oil until it retraces. It's likely to hit major resistance at the 39 level. So I guess selling UNG isn't a bad idea after all.
Bought UNG again B/E @ $14.83 Sold 1/2 at $15.97 for a %7.68 gain Will let the rest ride as long as support trendline from the 30min chart remains intact Stop set at $15.15, just below today's low
WFR has a sweet breakout. Will try to enter if pullsback, if not, will buy 1/2 position the next trading day ideal stop would be a bit below breakout point or low of the day... roughly $19.5
