Edited by Sentient Being, 30 January 2007 - 10:12 AM.
Commodities, Oil
Started by
Sentient Being
, Jan 30 2007 10:08 AM
4 replies to this topic
#1
Sentient Being
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Posted 30 January 2007 - 10:08 AM
I was stopped out of my commodities play (DBC) at break even. IEO oil/gas appears to be up again today, moved the stop up to +1.25% last night. I pushed the stops in tight when it appeared they might have had all the upside they were going to get.
Which is a way of saying, I guess, that the tools I use were showing commodities and oil as being much closer to sells than buys at this time. But I'll hang on in oil until my stops hit. Bump it up another dime tonight if not stopped out.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#2
IndexTrader
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Posted 30 January 2007 - 10:30 AM
Wondering why you're trading this IEO? As opposed to let's say something with more volume like XLE or OIH?
IT
#3
vitaminm
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#4
Sentient Being
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Posted 30 January 2007 - 01:28 PM
Wondering why you're trading this IEO? As opposed to let's say something with more volume like XLE or OIH?
IT
I was building some new indicators and just happened to be running them against IEO. When I realized that the indicators I was working on seemed to say that IEO was a buy, I thought; "what the heck, I'll take it"! So it's nothing more than the fact that I liked what I was seeing in the price action on my test indicators.
But now it seems closer to a sell, looking good so far today though. I'll just creep the stop up along under the short term support line and see how long I can stay in the game.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#5
IndexTrader
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Posted 30 January 2007 - 01:33 PM
Wondering why you're trading this IEO? As opposed to let's say something with more volume like XLE or OIH?
IT
I was building some new indicators and just happened to be running them against IEO. When I realized that the indicators I was working on seemed to say that IEO was a buy, I thought; "what the heck, I'll take it"! So it's nothing more than the fact that I liked what I was seeing in the price action on my test indicators.
But now it seems closer to a sell, looking good so far today though. I'll just creep the stop up along under the short term support line and see how long I can stay in the game.
It's probably similar to the XLE. But it trades very low volume, which is a problem at times...especially for stops. Something to think about. XLE trades big volume.
IT
