Posts Tagged ‘ position managing ’

Managing Your Profitable Position

Jul 26th, 2008 | By | Category: General Comments, Gilbert Mendez's (Gman's) Blogs
During the fourth of July weekend I wrote about oil being ridiculously overpriced (see the blog entry here:Wicked oil). Over the next 2-3 sessions after blogging about it, oil sold off hard ($144 to the low $130s) but it didn't necessary top off the way I had expected. It was a good sign but I did not have confirmation for me to get short, so I waited. A few days later (7/11) oil futures rallied back up to those highs, tried to break out and failed misserably. A failed breakout at the ridiculous highs was enough for me to put in a couple of small trades. I placed smalls shorts on CHK, HK, USO and oil futures. So here we are Read more [...]