Tuesday, November 3, 2009

EUO Stop Adjustment

On account of the move in EUO above the recent consolidation, I think this is a good time to move the stop up. I think it is not very likely to get stopped out if the recent bottom in the US dollar was a major low. If it does get stopped out, then there may be a chance for re-entry soon after, but right now, removing the risk on the trade will make it much easier psychologically to allow things to unfold.

Modify the GTC sell top on the open EUO trade to 17.50, which is basically breakeven or a little better.

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