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OIH Cup Of Oil

by Vince Dowd

Hi Traders

 

This market is strong, but I am always aware it could drop just as quick so always use your stops and risk management.  The trade below is on OIH.  The first chart shows the Volatility Implied mean and it has come back down not quite as low as a while back but decent

Now lets look at the cup and handle pattern, is has formed over quite a bit of time and OIL in the future will be much higher in my opinion…it will move but higher prices is what OPEC wants….may take a few here. 

 

I am profitable on most of my option and stock positions, however this rally has gone for sometime, remember trends run longer than most expect and with many waiting for a pullback to get in there may not be one…however there could be so always KNOW YOUR EXITS before you enter

Be Serene

Vince

This entry was posted on Tuesday, June 2nd, 2009 at 2:14 pm and is filed under Articles, Oil Investments, Options Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. | Email Us

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