Wednesday, May 8, 2013

Quick IOC Update

The IOC short is doing well, it's one I'd love to add to, but only if it comes to us, I would not add to it today.

 As far as the near term, the 5 min chart which represents the near term, is leading positive, we still have a good chance to get a head fake move above the $80-$82 level and that's where it makes sense to add.

The 30 min chart represents the trends ultimate probabilities, I don't think I need to explain this and this is probably our short with the greatest profit potential. Still, I'd stay patient and not ruin and already good position set up, if we get the chance and I think we do, then great, if not, we can pyramid what we have.

No comments: