Opened, UCO Closed NOAH

Not a whole a lot of great setups on the long side.  I took this one as we have the range contraction 

NOAH:

Range broke to the downside, I cut at 22.52 This would have been bad had I not honored my stop.

Stopped out UCO

My oil trade didn't work, I was looking for a bottoming type of move, buying the break of the 6ma, 11.74 with a stop at the bottom of the box 10.75. It turned out that the 6MA break was rejected and this traded lower to the bottom of the box. 

I could have given it more room, but if the support does not hold, this will fall very quickly.  Its always better to sell where you can, than when you have to and the spreads open up. The prudent thing to do, is watch this box and buy the close above it, if a reversal trade still makes sense.

OPENED NQ, UCO

NQ got a buyback announcement and the stock rallied hard.  The stock is coming from an oversold position but it is still a short IMO as the rally took it to the top of this recent trend line, which will be resistance. In addition, announcing 80 mill in a buyback will do little as it does not require NQ to buy the shares.  I don't feel this news warrants a 35% move as the news prior was pretty ominous. 

The past history of this company demonstrates that with past buy back programs, the company only bought a small portion of the shares and issued many more shares in multiples the amounts bought back. The company has not retired any stock repurchased.

I'm taking my initial tranche here.  

UCO
I bought UCO today, as a M/R trade.  I feel this has a well-defined risk limit. My prior energy play reversion trades, ERX have worked And this could get going with a small bounce in oil.
Entry 11.74
Stop: 10.80