Category: head and shoulders
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Head and Shoulders Pattern is Still Intact
As long as the head and shoulders pattern holds, I remain ready to initiate shorts on a bounce.
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Today’s Trades: CAL and USO
I re-entered a 500 share short position in CAL at $41.60. This is an aggressive play, as the stock has not yet broke the forming head and shoulders pattern. I also bought 500 shares of USO at $46.80. My target is $50, which is just under the 50 day moving…