$CVX Trade still in play Today $CVX had a slight
Post# of 474
Posted On: 12/11/2012 10:23:55 PM
$CVX Trade still in play
Today $CVX had a slight close above the 200 DMA, which is the resistance level that I am shorting against. Given the shakiness in the market today, it basically fell hard off of SPY 144, and my recent missed opportunity on $COST, I am going to left this on the table. There is another area of resistance at the 50 DMA if it really decides to go so this helps cap my short squeeze risk. However, if this closes above todays highs tomorrow I'll go ahead and move out.
[IMG]http://i.imgur.com/6fLhV.png[/IMG]
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