Thursday, April 11, 2013

IOC Short Position on Hold

IOC has broken down out of an ascending triangle that appears to be part of a larger H&S base. I'd like to add to IOC, but I believe there's a good chance IOC bounces from here to move above the ascending Triangle we have been watching and that is the place I would add to IOC at this point. I'll follow up with some charts, but I know a lot of you are short IOC. If I were short IOC, I may consider taking some partial profits, looking to add those shares back at a higher/better price with less risk.

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