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Silver Wheaton Corp. Message Board

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  • chemaes44 chemaes44 Mar 16, 2010 7:14 AM Flag

    OT: Oil short

    Today, as long as the oil price closes under the price range 80.45 to 80.60, the short position is still valid. I am not proclaiming that it will or won't break this level, but technically it is the highest price that oil should reach for a short position to remain valid.

    If oil closes above that range, the short position becomes invalid and I would cover, then take a long position. I believe if you do not believe in a long position, logic says go short and vice versa if you no longer believe in short go long. The exception, if you believe market trades sideways stay flat-no position.

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    • I've stated here many times, never make your trade in the first 20 to 30 mins of the day.

      There are exceptions to rules. And, ther would be exceptions to what I posted this monring.

      After the first 24 mins, I see some signs that maybe I shouldn't close my short yet. I'll know more in the next 2 mins to 1 hour.

 
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