Wednesday, September 03, 2008

Commodity Game Plan

I know a few people who are using this morning's bounce to deploy more energy shorts. However, I'm going to wait for a few more points to add to my existing short positions. While I agree we may get a quick drop here, risk/reward is not great until we get entries closer to the top of the breakdown bars.

Take a look at the charts of MOS and X, my existing short positions.

Ideal MOS entry: 100-102

Ideal X entry: 126-128

1 comment:

tradewell said...

I wish you had posted MOS numbers in your Market Speculator report, isntead of showing the arrow. I couldn't figure out where it was pointing.

MOS was up to $100 and I wanted to short more of it, but thought your arrow pointed at a higher point.

Thanks for the trade anyway, it's been good!