Trade Entry: SSO

I’m taking another stab at SSO, long 200 shares at $34.81.

I noted both in the blog and the Trade Report that I would like to buy in the $35 range and my limit order was filled at the open. I have to admit I am a bit surprised that the market is not doing more with the rate cut this morning. I thought this was the news item that would finally give the market the push it needed.

Thus, while I’m not overly optimisitic about this trade, I can’t ignore the historic oversold levels (T2108 at 2) and bounce potential. As with all of my trades over the past three weeks, positions size is small and the stop is tight.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Blog at WordPress.com.

Up ↑

%d bloggers like this: