So I got my wish and I am currently off school and working like a dog, catching as many oil dips as I can while they still last. My FAZ position got massacred and I decided to drop it at $45, which was its last true support until $35. The iETFs decided to take the highway to the danger zone with today's unexpected open, and I think that's the way they may close out the week (with the exception of SRS). On the contrary, my oil position in BHI is ripping and my newly bought ERX @ $38.64 is going to explode until week's close. Three stocks I'm currently considering are named below:
- DRYS - Any clean break above $12.40 will put this stock through to a resistance-less zone. There are a ton of call options at $15 on a composite single-spread.
- SII - Earnings Trade
- OXY - Earnings Trade
Keep your head up today and don't buy TOO high! I'm still sketched out about the enormous financial sector push we're currently experiencing, but we'll have to see how this plays out over time. Initial Claims Report for tomorrow on MJTT may be in order...
Keep Tradin'
ZM
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