Monday, December 22, 2014

Closed ERX, SLCA

The mean reversion trade in energy worked out okay for me. It would have worked very well had I sold on Friday, but I didn't I still took over $6.30 out of ERX and came away with a small profit in SLCA.  Again a reminder, ya gatta drop it while its hot. I think it's likely that ERX will enter the chop zone like it did after the October bounce.  I'll see where it establishes the bottom of the trading range, wait for some consolidation, and make a trade.

Entry: $55.73
Exit.   $ 62.05

This was disappointing in how quickly it dropped in the AM.  It got to the point where I just salvaged what profits left remained. It's very possible that this could re-test the lows if there's follow through to  the downside tomorrow.

Entry: 26.85
Exit: 27.05

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