6E looks like it's gearing up for some more downside, it may drag everything down after the close. I still like the longer term bull potential.
It's better that you wait for another day, another opportunity than to sit through the grind. Just my 2-cents.
With only 10-minutes left in RTH, they might even try to pummel this baby down the gutter. What an ugly day.
Still no selling climax to write home about. This ain't no bottom IMO. We shall see how this market pans out next week. Until then, have a good weekend everyone.
How many lots have you accumulated by now? One thing good about oil is that you can average all the way down, because it will never go to zero. But you may have a long time to wait (for it to come back to your average entry price). Will it go to $45 in the summer? just kidding.
I only have two lots. My average price on the two is 74.70, or something near there... I also am hedging at this point with some USO puts. If this SOB touches 70, i will pick up two more. Thats about the most i can handle swing trading without my heart exploding. I'll hedge those too of course...but that will still leave a lot of room for a potentially nasty loss.