Man I can’t want for this trend to change.. Seems like weeks/months of oil and gas on every scan every night. Commodity plays are so annoying and border on complete toss-ups in my opinion, so hard to find an edge. I’m basically working on trading around VWAP on them, really difficult to create a plan without some sort of indicator to bind to.
Today’s List: Full list from Yahoo Finance
Uni-Pixel, Inc. (UNXL) -NasdaqCM
Event coming up so I’m probably mostly in watch mode, will look for a parabolic up or a fade to crack. If it grinds sideways I’ll wait for the event and hype to fade.
Legacy Reserves LP (LGCY) -NasdaqGS – Bonanza Creek Energy, Inc. (BCEI) -NYSE – Denbury Resources Inc. (DNR) -NYSE
These three are IMHO the “junkiest” of the oil and gas, will watch parabolics or fades under VWAP. I traded LGCY yesterday for small losses, did not respect the VWAP. But there was not that much going on so I tried it.
OncoGenex Pharmaceuticals, Inc. (OGXI) -NasdaqCM
Instead of oil and gas, I should have been watching/trading this POS. Grr…. Watching for pops and more fail.