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Potential good Risk/Reward SHORTS in Energy in Play @ Close

FCG GASX GASL DRIP XOP CRUDE OIL

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#1 viccarter

viccarter

    TRIN_Rida

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Posted 11 March 2016 - 05:57 PM

I have some real nice short setups in the energy sector ETF's that should provide good setups into next week.  FCG @ 4.39 has close to 90cents under it, IMO.  30 cents is a good ATR stop, plus would put you right at the previous swing high.  Might give it a few cents to flex, but I don't think it gets anywhere close to the stop, and if it goes hard upward on Monday, I would just have to say I was wrong long before 30 cents up at the 4.7 area.

 

You could play it the GASX (3X bear FCG) and the volume is better lately, but still real bad with a lot of bid/ask spread.  Last few days have moved 400K+/day, so it might work out.  GASL (3X bull ) would be great if you could get the shares to short.  I have never tried it.  Also you might short XOP or use the (3X short DRIP).  All these would work, but I am charting FCG and select equities.

 

Good Luck.



#2 pdx5

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    I want return OF my money more than return ON my money

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Posted 12 March 2016 - 01:38 AM

Made very nice profit in energy so far on the long side. Starting to look at unloading soon.


"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule

#3 viccarter

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Posted 12 March 2016 - 02:44 AM

Made very nice profit in energy so far on the long side. Starting to look at unloading soon.

Yeah, I thought that you would and you were not alone.  Nice trading.







Also tagged with one or more of these keywords: FCG, GASX, GASL, DRIP, XOP, CRUDE OIL