Thursday, March 13, 2008

Today's Trades: EOG and DCR

I bought 200 shares EOG at $118.54 today. The setup is a classic breakout pullback play on a stock exhibiting a strong volume pattern.

Now for the speculative play I spoke of in a previous post. I bought 500 shares of DCR at $8.64. DCR is a "down oil" ETF. It's basically a way to short crude oil.

This trade is entirely speculative and is not based on my usual trading setups. In fact, I rarely go against a well defined trend unless there are signs of an impending breakdown.


kunal said...

wow. Talk about a trade that makes absolutely sense in the hottest sector around. Sometimes its right in front of us and we miss it. Good trade Paul and keep up the great work educating us!

The Market Speculator said...

Thanks Kunal. I wish they could all be this easy.

Noj said...

I was reading the message board (yahoo) on DCR and saw multple post on some stipulation with DCR if oil hits 111 for three days. I normally take all message board material as worthless, but you might want to just read up on it and take a look at DCR filings. See if it changes your decision. Thanks for the post. Read your blog everyday.

The Market Speculator said...

Thanks for the information. I got out of the DCR trade.