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OXY

USOIL: Hold longs, long term uptrend signal triggeredThe oil uptrend signal finally triggered here, after OPEC agreed to cut production accross the board today. As more details come out, we might see some kind of pullback, or not, but it's clear we have to hold our long positions for as long as possible. I'm trading the swings in the short term using $UCO, and aiming to capture the longer term trend with my $OXY and $TSLA holdings, as well as the CFD/Futures positions. Those might need to be managed more actively, taking profits, reentering, adding, trailing stops, due to short term volatility, rollovers, etc., but for now, I'm holding. Good luck, Ivan Labrie.
TVC:USOILLong
by IvanLabrie
HIGH VOL: KEEP WATCHING!!!Look guys, this is the same Fib retracement that has HELD since the Jan-Feb selloff. Do not take my word for it. Look at my previous predictions, load the new data, and see how much money was made. MPC has had a history of bucking the market. When SPX was down 2%, this was down 7%. When SPX was up 3%, this was up over 8.5%. This is a lower liquidity, higher volatility play. I am NEUTRAL on MPC. To be honest, I've put no money into for a long time. Money could have been made straddling the 2nd fib level, but the reaction to Brexit (not the market reaction to Brexit itself) has caused everybody to look at everything closer, and rightly so.) Here's what we know: MPC is range-bound in the 2nd fib level. We also know it's good for a 8% pop or drop in a one session. Is that within your risk tolerance?? It's not within mine. Conclusion: IF YOU DO NOT HAVE TO TRADE, DO NOT TRADE. I honestly would not look at this stock until after earnings (July 28th). That will give the market plenty of time to digest new capital inflows from stock buy-backs, and allow for a reaction that may be based on technicals vs. fundamentals. There is money to be made, but patience is a virtue. If you see something I don't?....Please share! I need to eat too...
NYSE:MPC
by nodiggity
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