about 2 years ago - No comments
I got stopped out of the XLE trade this morning. This is why it’s so important to place those protective stops. I managed to make a couple percent off the trade but rolling up that stop ensured that I wouldn’t lose any money. I’m going to be watching the energy space closely as this could More >
about 2 years ago - No comments
The trading action today was again choppy as most of the big wall street traders are most likely on vacation. Volume was low and the moves were jittery. While the major indices are not overbought they are definitely far from being oversold. Therefore you need to take a defensive posture. I’m still net long but More >
about 2 years ago - No comments
My XLE trade is finally starting to show some life after chopping around in the 70-72 area for a couple weeks. What’s good about this trade is that it isn’t completely tied to oil itself. The XLE contains a number of businesses from refining to drilling, and tends to move more along the lines of More >
about 2 years ago - No comments
I’m keepin a close eye on that XLE trade. I ALMOST got stopped out yesterday but it managed to hang in there and is showing some strength today. If we can get a strong close and some follow through tomorrow I’ll be adding to the position. The financial have once again proven that they can continuously More >
about 2 years ago - No comments
I added a little bit to my XLE position today as the $70 area has again proven to be pretty decent support. I think within the next couple of days this trade is either going to start producing a profit or I’ll get stopped out as traders make up their mind as to whether or More >
about 2 years ago - No comments
I took a long position in the XLE today as a play on an oversold energy market. On the daily chart the XLE looks like it has good support right around 70 and and the bullish divergence in MACD histogram bodes well for a shot at the long side. Furthermore, declining volume over the past More >