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Direxion Daily Energy Bull 3X ETF Message Board

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  • lilies778 lilies778 Sep 1, 2011 7:13 PM Flag

    still short at 44

    why do you think oil stay so high ? think labor day weekend coming up has something to do w/ it ? then it should drop like a rock afterward , cant wait, i think 32 sounds reasonable , if and when

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    • My strategy is to close short position when it gets back near the current base, maybe around $41.00. Then I'll watch for a breakdown or turn back up. I'll set a conditional order (OCA) with a sell short stop order for $38.50 and the other as a buy stop order for $$44.00. Then we'll see what happens. I'm leaning towards some sideways channel action for a while longer, so I'm thinking the buy stop will get executed($$ = Larger position). But if it breaks down, I want to catch some of that action. GLTA.

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