Shared by
James_BOWSsim
Right after the bad oil inventory report came out I shorted this oil name when I saw USO and OAS begin to tank. Got a quick 10 cent scalp on this one. Would have been well worth it if I had more shares, but it was a riskier trade in my opinion.
Looking back I should have definitely shorted a larger oil name. Its just too risky to short something that's already under $5 to me. I also kind of think I chased this one because of my entry, or perhaps that was simply due to how fast it was moving.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-01-13 10:31:05 | UWTI | sell | $2.200 | short |
| 2016-01-13 10:31:05 | UWTI | sell | $2.200 | short |
| 2016-01-13 10:34:02 | UWTI | buy | $2.100 | short |
| 2016-01-13 10:35:00 | UWTI | buy | $2.102 | 0 |
Comments
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Why not long the DWTI (the inverse)? MUCH better movement.