Monday, November 2, 2009

SPXU Stop Adjustment

While further stop movement at this time will increase the likelihood of a stop out, with the FOMC announcement Wednesday and still mostly short-term oversold readings, I am going to move the stop, and then if it gets hit will be looking to re-enter when indicators suggest.

Modify the GTC sell stop on the open SPXU trade to 44.45 until further notice.

The EUO trade still needs room in my opinion, so leave the stop as is for now.

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