06Jan11:01 amEST

My Way of Playing Oil to Stabilize Soon; Chess Moves

B6mlyj4IUAACbzw.jpg-large I went short AAL, a major airline, in lieu of trying to catch the falling knife that has become crude oil. On a standalone basis, AAL looks ripe to follow some other major airlines lower today from its extended conditions on virtually all timeframes. But if crude can at least find a temporary low soon, or stop going down altogether, then airlines should finally come in a bit more out of sympathy. I went short AAL at $53.59 with a (tight) protective cover stop-loss above $55. The position is roughly 4% of trading portfolio capital. Earnings are scheduled for January 27th, and I will be out of the position by then, win or lose. AAL

Scale and Trail a Winner; Ch... Pressing a Bet; Chess Moves

 
BackToTop
 

This website is intended for educational purposes only. | © 2024 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site