Anyone shorting VLO at these levels?

Discussion in 'Stocks' started by jsmooth, Sep 10, 2005.

  1. jsmooth


    i rode it up last week post hurricane now it looks extremely over bought at these all time highs....anyone going to short at these levels come next week?
  2. KevinK

    KevinK Guest

    No way.
  3. logikos


    What is the least path of resistance?


    If you want a sure way to blow out your account, attempt to pick tops of hot stocks.
  4. A guy at my firm lost 10+ points on 20k shares of VLO last week. What does that tell you?

  5. KevinK

    KevinK Guest

    Yeah, this one is a roller coaster. I think oil will be up next week based on the weekly chart, and VLO should move up with oil IMO.
  6. logikos


    I'm sorry, but the self-destructive habits of some traders make me wonder how they can stay in the game for long.

    I would never, ever consider anything but a day trade for VLO with current volatility levels. It can easily open up/down 10 points overnight.
  7. Yeah, its insane. I dont get what he was thinking. He held and held and held and there never appeared to be a reason to stay in the trade. It was a very expensive lesson to say the least.

  8. logikos


    I know what it is: PRIDE. It's hard for many to admit they were wrong and take the small loss. Instead they pay dearly.

    I've been through this myself and continue to fall into this trap occasionally.
  9. Still riding this gem up ...scalping profits here and there on option calls . I have take the biggest majority of profits off the table , but still holding a few calls but looking for another opening to reload if it starts to run up even more.

    I am no way looking to short VLO in these markets.

    happy trading , SS
  10. Using put spreads limits the "@ risk capital" and if it keeps riding up. cover your short. Just buy enough time.
    #10     Sep 11, 2005