DUG – long
Nov 27th, 2007 by Trader-8
i took DUG long at just over 42 on Friday. not the best of entries, but i wanted to be hedged against a PB in crude. i should have added yesterday on a PB to the low 41s, but i chickened out. anyway, initial R/R is over $3. i sold 1/2 on the open near 45.50 – a little quick as i could have waited for R near 46. just a bit of channel surfing!
i figured out why i was having little success finding set-ups… long side bias. when we get a bounce, ill be looking more for short set-ups. been noticing many stocks being contained by the 20MA at BBand midpoint.