Tuesday, January 26, 2016

Oil Bear Flag

I don't trust this as a bottom for crude oil. It's acting like a bear flag at the moment. It's still a good short on a technical breakdown. We'll see how this consolidation plays out. Apparently sub $20 oil eliminates profit for the middle east. So everyone is expecting it to bottom around here. I'm just going to go by the price action. If everyone thinks it can't go lower than here it probably will.

Thursday, January 21, 2016

Sold SCO This Morning 6%

I put a stop order outlst night to sell the whole position on a move below the previous close. It triggered this morning and I sold all of SCO for a 6% gain. I was planning on flipping to long oil but this small a percentage move doesn't in itself indicate a spike bottom. Oil was up just about 4% or so, not a wide ranging day indicative of a sure bottom. It looks like a bullish engulf starting. I will see how it goes but this looks like a bear flag more so.

Wednesday, January 20, 2016

Short Crude

I shorted crude oil on the technical breakdown yesterday. I shorted it by going long the inverse ETF SCO at 207.

Friday, January 1, 2016


LEI is up on good news. It's a good short watch for a day trade or quick swing. It's highly probable that it will consolidate lower over coming days just because it ran so much in one day. Short bias.

I've seen this one LPTH hit my scans a lot over past months. Digging into it more I find it is a $60 million dollar company with explosive earnings growth. Earnings estimates just got bumped up big. This is always good. It's hitting new 52 week highs. $3.00 is major multi year resistance. If it clears that its off to the races probably. It could be good on the short side if it stalls out to. I like it long bias at the moment.