I have yet to see a strong price move coupled with strong volume, which leads me to believe yesterday's bounce was due to short covering. I may have entered a bit early, since we are still a few points away from moving average resistance. However, I do not want to miss the next leg down.
4 comments:
Was this the speculative play you were talking about?
Hi,
Regarding your BOOM trade yesterday, I'm assuming you went short. But I'm wondering below what level. Below 42.50 perhaps?
Thanks,
AJ.
No, MON was not the speculative play. I will have a post on it later today. I'm betting against oil with DCR.
AJ: You guessed right. I am short BOOM.
Could you tell me at what price you shorted BOOM please?
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