April 10

As you can see, I missed the lower buy in at about 5.30. I waited for a little more volume to push up prices. I bought 2000 shares around the 5.60 mark. I shorted 250 shares at the 5.86 then buying back at the 5.50 mark. I am holding my 5.60 position, and I will probably put up aggressive stops Monday morning near 6.30 if it doesn't gap down to that or lower. I will probably end up selling my position if the market doesn't continue to climb higher. If it continues higher,I will put tight stops on my position and follow up.


As for the longer term, the market is going to have to pull back. Hopefully, I can offload current positions and get ready for that pullback. I use telecharts for my longer term goals, and I marked two areas that are interest for me.

I use a custom cci indicator and MACD. I don't have the volume weighted MACD that I use as well on the chart I'm posting.

On this chart, the +100 CCI is broke, and the 10DMA is nearly crossing the 30EMA. It gives me confidence that the market won't completely run against me in the short (hope).






I am beginning to look for an entry into USO as a long term play, and it will provide a nice hedge vs. the transportation stocks I like to trade.



Rob