"A man is not finished when he is defeated. He is finished when he quits."

Wednesday, August 4, 2010

August 4th


Here are the two paper-trades in RIG that I took earlier and the short in FCX which remains open. Unfortunately, I hit the "Clear" button to remove the lines from the RIG chart forgetting about my entry/exit lines; hence a bare chart.


I like the short I took in FCX at 74.86... we are bumping against a longer-term resistance area after a nice run from July 19th. On the shorter-term, it is pulling back slightly after a nice run-up from about 10:30am today. I had a chance to exit this at 3:00pm with a $75 paper-gain but held for a bigger breakdown. At EOD I had a chance to get out with a small $35 loss, 3:50pm, but I held for a bigger pullback. We'll see what tomorrow brings... hopefully it will come back into the $74.45 area.

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