Tuesday, September 23, 2008

More downside for energy?

Now the first thing you have to understand is that these trade based on crude. So if crude is strong, don't expect to make much money shorting these. Crude can remain strong if the indexes are strong.


Looks like there is more room down. Hitting resistance at the 20 and 50 DMA.


Interesting price right now. If it holds below previous high, this can go down to 35 in no time. This should be a very easily managed trade.


Further downside after consolidation? Wish I was looking at this 2 days ago, would have been much easier to manage.


Didn't I just see this chart?


Trades inline with oil.