Wednesday, May 21, 2008

Top?

So, I'm taking a shot here. I'm playing/entered into a bearish position on COP today. I really think there's going to be some profit taking in the next couple of days. And yes, I know this is strongly tied to oil; but it's a counter trend trade...

My target is the range between $88.80 and $90'ish; my stop is above today's swing high. Plan the trade and trade the plan.

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