Site Meter The Lawyer Trader: Shorted Energy Through ERY

Tuesday, July 7, 2009

Shorted Energy Through ERY

I bought ERY yesterday afternoon, which is the 3X Energy Bear Fund. The daily chart looks very bullish (see below) and oil just registered a sell short signal on the TLT Trender v2 system on the 4 hour chart. Here's the TLT v2 chart:Here's the actual chart that I saved from yesterday after I put the trade on:I actually put the position on right at the close of yesterday's market, which worked out well today since ERY was up a little over 7% today. As always, this trade could be a dud, which is why I save a chart showing my entry and my pre-determined stop loss for each trade. Saving these charts also provide a nice record of each trade, which helps for going back and analyzing past winning and losing trades.

We'll see how this one goes.

TLT

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