XCO had so much potential. I bought 5.85 range and saw a jump to 6.60, which faded back into consolidation area. As with many failed breakouts, XCO then broke out of the consolidation zone the other way. The reversal was triggered by a downgrade and a $4.00 price target. My stop at 5.40 was hit and a small loss was taken on the trade less than -.05 R. I was only on 500 shares and position this trade in hopes that it might make a multi-week / month move. My premise failed and I gladly took my loss.
Corn. This has been one that I have tracked for a while now. In at avg. 33.84. I've had big hopes for catching a multi-month move. I'm no longer optimistic as today's crop report predicted a robust harvest. Another reversal. 35.49 to 34.34. The position is still profitable and trades above the 50 MA. But another reversal and back to consolidation. If I do not see immediate improvement on Monday. I will bang it out.
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