Watched the market open up, hold and scanned my sector watchlist and saw the oil and oil service sectors all positive. Decided to make a trade, assessed the risk/reward ratio for USO the stock could run up to $37.70 before hitting serious resistance from it's open of $37 and I was willing to gamble .05¢. Took on the position once uptrend of $37.10 was beginning to work. Got in at $37.14 with a tight stop at $37.09. Realized stop was too tight and was stopped out. Got back in at $37.20 and sold out at $37.49 once I recognized there was heavy resistance at $37.50.
Stock has since fallen back down right after I got out and looks like it's making another run... still on radar but will probably wait until the closing bell to take on anymore trades.
Nice little chop Mark. Are you mostly trading 100 shares at a time.
ReplyDeleteTypically I have only been trading in 100 shares lot. I took on the trade again after the Fed announcement around 12:30P PST and collected another $3 into the close... I thought I saw a volatility squeeze with an upward bias.
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