I don't understand your trading logic except maybe you are using the "rubber band" effect. Ie going long when VLO seems oversold and going short when VLO seems to be extended too far. You may be using options to hedge your "bet" which would be advised. Currently you have a HUGE bet on the short side and I trying to understand your logic since the "trend is your friend" and earnings are going to move VLO upat least in the short term IMO. What is your reasoning for the heavy short position? I mean theoretically,..VLO could go higher and not come back to these levels based on their business model and great news that may very well be on the horizon. What thinks you?
Interesting, And just where were you on Friday when VLO broke $62? I was buying at every support level. I made all my major purchases in the $62 - $63 range riding it up Monday and Tuesday for a nice gain. I came into the day flat and started shorting because of the anemic response to COP's earnings earlier this morning. Still manged to close out $15,400 in gains today in VLO. Will carry the rest of the position into tommorrow and see where we go from there.