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A GUIDE TO MAKE A LIVING TRADING OIL FUTURES
Tuesday, August 25, 2009
71.75 points us back to 65.3
I already miss the good old days of 74.96 that was just this morning I was leaning that we would not break but missed the first 3 points off the barring an excessively bullish API and EIA
We believe we have reversed inside the bull channel and we will revisit the 65 support line or
maybe see 66 before we break 75 also we are starting to think we will get a pullback across thye board as now the feeling has pervaded your truly to protect against a downside move
I absolutely protect now so I can buy then I want to be able to add to my holding single retreat to me is discount shopping but if you don't sell or buy puts at least you cannot play
the pullbacks we could not get our puts at the 8o line and took half of the rimm position off during the baby run this morning this issue has had a tremendous run but history has shown us that it can also make a run straight down 8-10 points as easily as it went up
we held it for longer than most would as we love the stock but we can see when something needs to catch its breath we can buy back lower again by taking a sizable profit on half as much as we hate to say goodbye to even one share
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