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Followup: after looking at the CL8Z chart a few times this weekend, I decided
that Friday's action looked unlikely to be followed by renewed up action; it
looks like a short term top to be followed by some retracement. So I
exited at market on open today (Tue.), got 14.32 for a 261.10 profit (incl.
comm.). I may look to reenter in a few days, back around my original entry
price.
Still riding CD8Z and BO8Z. (I'm also in HG8Z and C8Z but I haven't
discussed those trades here; HG8Z is doing okay for me today.)
-k
> 2. CL8V, long 1 contract, entered via a stop buy at 13.82, filled at
> 14.03 (gap open yesterday). Current price: 14.59.
>
> Reason for entry: bottoming action in CL, stop placed above downtrend
> line, entry could/should signal at least short term trend change.
>
> Stop: 13.94 (for Friday; haven't decided yet for Monday), any turnaround
> back through the low of Thursday's breakout would indicate the break
> is false, and since I get in close to the low, this is a very small
> exposure for my position.
>
> Profit exit strategy: haven't decided yet; a quick glance at today's
> action doesn't clarify it for me, either. I might shoot for a quick
> profit high up in today's range, and look to reenter later after
> a pull back, or I may try to ride this as a more significant
> trend change for a while. Suggestions?
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