Thursday, March 20, 2008

Morning Look

Commodities are lower again into the open. USO just broke $80 in pre market trading. I believe my short was put on around $85.90, it is currently indicating around $79.40. I have a shorter term time horizon than most so I will probably start scaling out as the day progresses. I will have to judge the action. Will there be fear, will they be rushing to get out? I am short some PCU pre market here at $98.50 and am watching RIG for a short entry. Things change by the minute around here. XME was held from last night and the same thinking applies there too.


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.