___________
I’m all out of my oil plays, selling the rest of COP today. There will be another trade in these names, but not yet.
I also booked profits in AA, which had a beautiful bounce off the 200 day moving average– textbook bounce. I am now back in cash.
It’s important to stick to quality in this part of the risk cycle, unless we are talking ebola plays. But, for the most part you should be very selective with you trades going forward. Less is more. Protect capital at all costs. When we get out of this mess, we should have a pretty good trading environment, long or short. I’m looking forward to it.
TZA is tempting me here, but I got to sit on my hands. Protect your capital.
If you enjoy the content at iBankCoin, please follow us on Twitter
aggre what a great trade in oil stock.
What do you think about lake here? Too late or opportune pullback?
I wouldn’t touch them here. Not to say it can’t work, but let it base out and try to find a better action point.
Agreed, just needed to hear somebody say it
Thanks and have a great weekend
Same to you brother.
RC,
Do you ever have such a thing as a long term holding ? Or do you usually move the entirety into cash?
Long term holding is dead up here. In cash all the way around.