Ton’s of oil and gas plays have my screens all clogged up, there are so many of them, that I find it hard to decide which ones to add to watch. I went with BAS and OAS just because I’m familiar with them and thought about trading them Friday.
Still watching and waiting for the backside of the move to short, need to be more aggressive trying to buy some of these. All week this thing looked like it could spike hard, would have been a great long many different times.
I was super cautious and stayed away from this, if it was any other day than a Friday afternoon I would have shorted. But was scared of a Friday afternoon spike, and did not want to get stuck it in over the weekend. Hopefully get a spike to short in to.
I’m still holding this short, but it just keeps grinding up. It fades at some point, I just don’t know if I will be able to hang around long enough to take advantage of it. Looked solid Friday morning, but then spike right into the close.
I have a small starter short in this, comments are basically the same as FRO, its being stubborn, but I think it fades medium term.
BAS and OAS
These are the oil and gas plays I’m watching, so much volatility on Oil right now, not sure if i have any sort of edge. Other than trying to trade technicals.
Made decent money on this Friday, though my entry was terrible, had it on watchlist to enter around $7, I watched it fade all morning then traded it from like the $6.50’s to the $6.30’s, nice easy fade and I covered around the LOD but bummed I lacked conviction on my entry. Will look for another spike to short.
I had been watching this for a fader for a couple days and almost entered, yikes it spiked hard Friday afternoon. They are still a carcass but they closed on some financing. I meant to read it closer but will after I post this list.