Tuesday, December 30, 2008

BP stop and Crude

The entry level for getting long the BP worked well today.  But it will shift lower for tomorrow so I want to move the stop up to break even to protect our modest gains from today.

Not entering crude at 38 earlier turned out to be a big mistake but we should have more opportunities.  I think crude can bounce back to $44.

There is a substantial risk of loss in trading commodity futures, options and foreign exchange products. Past performance is not indicative of future results